The price of bitcoin has seen a series of notable fluctuations in recent times. Here are some reasons that could explain the recent drop:
1. Death Cross: The death cross is a technical signal used by investors to predict the future behavior of a cryptocurrency. It occurs when the average price of the last 50 days falls below the average price of the last 200 days. This combination may indicate significant long-term losses¹.
2. Macroeconomic factors: Rising interest rates due to inflation and fear of a recession in the US may affect the cryptocurrency market, including bitcoin⁴.
3. Regulation and other events: Regulatory scrutiny, bitcoin miner exits, and institutional buying activity can also influence prices².
Remember that the cryptocurrency market is volatile and subject to multiple factors. It is always important to do your research and consider various perspectives before making investment decisions. 📉💡
Other Articles you can read
(1) Bitcoin: what is the "cross of death" and why it scares those who.... https://www.bbc.com/mundo/noticias-57572823.
(2) Why bitcoin has fallen 70% from highs and why it can continue.... https://cincodias.elpais.com/cincodias/2022/06/24/mercados/1656047913_000962.html.
(3) Why has the price of Bitcoin dropped today? - Cointelegraph. https://bing.com/search?q=Por+qu%c3%a9+est%c3%a1+bajando+el+bitcoin.
(4) Why has the price of Bitcoin dropped today? - Cointelegraph. https://es.cointelegraph.com/news/why-is-bitcoin-price-down-today.
(5) Why is Bitcoin going down so much? - Forbes Argentina. https://www.forbesargentina.com/negocios/por-esta-bajando-tanto-bitcoin-n20583.
(6) Getty Images. https://www.gettyimages.com/detail/photo/crytpocurrency-royalty-free-image/954471176.
