How are you everyone?Today I will discuss with you about Why has the price of Bitcoin decreased? I will try to highlight my experience. I am young and my experience is very little so please forgive me if there are any mistake.

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Bitcoin prices are volatile and difficult to predict. It reached its all-time high of $69,000 during the peak of the crypto rally in November 2021 but has fallen to just $16,000 by the end of 2022. The decline is largely due to rising interest rates, which have driven investors away from speculative investments, the failure of several high-profile tokens and exchanges, and concerns about stricter regulations for the crypto industry.
But in 2023, the price of Bitcoin rose 154% to above $42,000. That rally was driven by slower rate hikes and renewed market interest in the crypto market. Many investors also hoped that the SEC would finally approve bitcoin's first spot price ETFs.
Hence, Bitcoin's recent decline has only erased its gains since early 2024 It appears that some short-term traders pushed up the price of the digital currency in anticipation of the recent ETF approval and then quickly took profits as the euphoria faded.

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Bitcoin price may be under pressure as it crosses ETF approvals. However, three catalysts that could drive its prices higher are on the horizon.
First, ETF approvals will make it easier for large institutional investors to deposit bitcoins in the open market. Ark Invest's Cathie Wood, who oversees the recently approved Ark 21Shares Bitcoin ETF, believes the bitcoin price will hit $1.5 million if institutional investors buy more. Fidelity, the investment giant that just launched the Fidelity Wise Origin Bitcoin Fund (FBTC), claims that it expects bitcoin to reach $100 million by 2035 and $1 billion by 2038.
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