Bitcoin is going down very hard till now after touch ATH last year. Any idea what caused it? And what the impact to other altcoins? Any opinion when bitcoin will be rise up again?
Feel free to answer my questions and thanks for your participation.
There is reason to believe that the recent downturn in the value of bitcoins has had a big impact on the continued ban in countries such as Japan, South Korea, China and India. In addition, the boom of bitcoin led to new investors joining the cryptocurrency-subjective. They collapsed when the bitcoin value plunged $ 3000- $ 5,000 just about 2 weeks. It made them scared and sold the BTC.
The caused of bitcoin goes down very hard recently because of the "big wheel cash out" which means some investor get their money because of contentment of the amount. Mostly they hold when the price is low. High and low price of bitcoin is normal which no need for us to be worried.