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Now BTC is trading at just above $55,000, and the crypto market capitalization is again below $2 trillion, the fear level is 38.
Why does Bitcoin continue to fall in price?
Causes:
1โฃThe market clearly shows signs of โcapitulationโ of miners.
Over the past weeks, the total daily revenue of Bitcoin miners has decreased by 63% ๐
Most BTC mining equipment is operating at a loss at the current price.
2โฃExchange Mt. Gox officially confirmed the start of payment of compensation and the crowd began to panic sell at the news.
๐จCritic Peter Schiff wrote when BTC drops to $38,000, real sales will begin, because... all investors in Bitcoin ETF will lose money
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