Post
Topic
Board Speculation
Re: The reasons why Bitcoin price drops recently
by
magneto
on 31/03/2021, 02:21:57 UTC
1.  Powell commented cryptocurrencies as "a speculative asset" which leaded to an adjustment in Bitcoin price but a rising trend in Gold

2. US President is considering spending $3 trillion on infrastructure in the States which draws investment capitals into the US stock market

Even there is an adjustment in the Bitcoin price these days but it is expected it will recover soon.



Stop trying to attribute every single price movement to some underlying event.

Sometimes corrections simply happen because of chance. A position might be closed by a whale, which triggers some arbitrary TA signal, leading to an adjustment without any external shock.

The market is overwhelmingly bullish still, and these bearish episodes should be short lived so long as institutional investors continue to pile in from all directions.