Why bitcoin price keeps going down these days? Is it just the ETF rejection of Vinklevoss twins?
I think the market for this year is not good enough to rise the price of bitcoin to as high as $10k before the year end as those investors are selling their coins for short profits and no sign of good news that can ignite the market to a bullish.
Till now it has being a falling market in this year and we do expect some good movement to happen in this last quarter. If you consider last year as well it was almost same like this year and the rise happened was in last quarter. If we can see some 50% growth as well from the current levels we should see 10k easily in this year .
Yes the current price of Bitcoin is below 8k.There are several reasons behind this downfall of the price.Thr amount of investos of Bitcoin have decreased because the prices are not rising.The demand of Bitcoin has also decreased and so the price is unable to rise.Bitcoin is also banned in some Nations which is also contributing to the downfall of its price. But we should not underestimate Bitcoin as it has the capability to create new records like it did in 2017 which was called the Bitcoin year.