What has caused the crypto market's mood to decline in recent days? I lost quite a lot in crypto trading this month. Let us discuss it with enough insight and hope that in June Susana will return to a stable green, Thank you friends.
We all know that bitcoin is the benchmark for all other coins, so when bitcoin goes down, the majority of altcoins fall too, and that will definitely cause the market to turn red. The reason the bitcoin price is currently down in my opinion is because the Chinese government has officially banned financial and payment institutions from providing crypto services. another reason is a statement from Elon Musk that Tesla will stop using bitcoin as payment. but I still believe that bitcoin will skyrocket to the top again, because I have heard the news that Venezuela has legalized bitcoin, and recently el Salvador announced it too. I believe news like this will make the price of bitcoin even higher, and make the crypto market green again.