Why Bitcoin Continues to Decline Sharply?

Bitcoin has been experiencing significant declines due to several reasons. Firstly, changes in monetary policy, such as increasing interest rates by the Federal Reserve, have impacted investments in risky assets like Bitcoin. Secondly, there are legal uncertainties as governments impose strict regulations on digital currencies. Security breaches and fraud incidents have also undermined investor confidence.

Moreover, Bitcoin has shown a close correlation with stock markets, where declines in the stock market often lead to Bitcoin declines. Negative media coverage and social media sentiments further fuel fear and trigger selling pressures. Institutional investors selling off assets for various reasons also contribute to the price decline.

Considering these factors, it's crucial for investors to understand market conditions and carefully evaluate before making investment decisions.

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