I have been thinking of the possible reasons of the bitcoin falling down. Since I am not an expert on the Currency I cannot predict or give any reason. That is why I want to know the reasons. Please if anyone can tell me I will appreciate. Thanks.
It is simple, you can find the answer if you follow the supply and demand of the market. From that we derive that the supply outflow the demand. Another thing is by looking at the current BTC news trend. There are lots of persecution on Bitcoin mining and that also affect the demand of BTC. So check which one is dominating the media, the BTC hype or the BTC FUD.
The supply ate getting limited but since there’s no huge demand currently in the market, tendency our the price will be more cheaper and that is what happening with Bitcoin right now aside from the market condition as well. Bitcoin price hits the support level, and keep watching because it might continue to fall and most probably hit another bottom before rising again. This is a good opportunity to buy, don’t miss it.
The reason why bitcoin price is going down? certainly influenced by the high level of supply and the lack of demand for bitcoin at this time. many bitcoin holders try to sell their assets and switch to FUD currency. However, the cause of the strong supply can be influenced by various reasons, such as the cessation of mining carried out by certain countries and so on.