A Brief Discussion on Bitcoin Price Decline.
Assalamu Alaikum
The world's largest and best-known cryptocurrency is currently down nearly 10 percent from its peak this year. Bitcoin peaked at around $74 k
Last week the price was 66 thousand 560 dollars. But now it has decreased by 2.2% and the price of Bitcoin is standing at 63 thousand 23 dollars. The price of Ether, the coin associated with the Ethereum blockchain network, also fell 01 percent to $3,115.6, which is much lower than the previous day. The coin was worth about $4,000 last month.
Source
We are all aware of the fact that there is anarchy going on in the world today. Due to the Iran Israel war, the global market is witnessing a massive price drop. As a result, all coins, including Bitcoin, fall in price. Basically, the value of all coins depends on the value of Bitcoin. When Bitcoin falls, all coins fall in value, and when Bitcoin rises, all coins rise in value. Everything is basically the same. Depends on Bitcoin. A price drop at a relatively low rate is that the value of this price drop in the past was much higher. Which is not seen now. I hope that the price of Bitcoin will increase again. It may take some time but it will happen for sure.
Today's discussion ends here. I hope you find it interesting and able to understand. Share your thoughts on today's topic. Wishes and blessings to all.
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Nice explanation and interesting concept from you as to why Bitcoin is down, I mean it's understandable though but honestly we can't really expect Bitcoin to immediately start surging barely weeks after halving
Thanks for reading.
https://twitter.com/MahmudulK59125/status/1784248278084903083?t=Bh2eWL3yeWoQFNIirpkwtw&s=19
Although it is hard to predict how things will be in the market but I believe the current Bitcoin price decline is normal because after halving it is expected.
I have absolutely no idea why the value of BitCoin dropped. But you shared a very important post today. Thanks a lot for sharing with us.
Bitcoin is setting itself up for a huge pump, the bullrun will start very soon.
I also think Bitcoin will go up soon. Because the Bitcoin halving is well over. And after the halving, Bitcoin mining red has been halved. You have done a very nice analysis. thank you
Currently the market is very positive.
Yes.