A tornado has been raging in the crypto market for several months. As a result, Bitcoin was falling from 59,000 to 42,000 this month. After a while, 17 thousand dollars was reduced to see. It was coming down from 64,000 to 28,000 a few months ago. Why is there so much dumping in the market. Where the position of Bitcoin is supposed to go in the right direction? Do you think this is a sign of stable market?
No i am not supporting this because Yes there are dumping happens many times but there are increase/bumping happen more times for the whole year.
bitcoin even reached multiple All Time High when there are no lowest price dumped for long time for this whole year.
meaning that we should count our blessings instead of looking for the declined in prices.
It's always hard to pinpoint the exact factor behind the price of bitcoin dropping, but to my knowledge, it seems that one of the factors that caused the price of bitcoin to fall so deeply was the statement issued by the FED regarding tapering off. This makes a number of investors afraid of the emergence of various speculations. However, I believe that in the longer term bitcoin remains bullish although it may seem that the current bearishness continues at least until the end of December.
This may be a reason but we can see that this does not affect the value that hard right? yes the market shaken but not to the extent of coming to Bear market.