The reason for the collapse of Bitcoin is because...
The collapse of#bitcoin$BNB $BTC can be traced back to several main reasons:
1. Economic and political tensions: The decline in Trump’s chances of winning the US presidential elections, fears of a recession, and the global stock market correction, all led to a decline in confidence in the market.
2. Distributions of Mt. Gox: Large inflows of Bitcoin into the market as a result of asset distribution from Mt. The collapsed Gox raised concerns among investors and led to a huge selling wave.
3. Performance of global markets: The Japanese Nikkei index fell by more than 12%, which led to negative effects on global financial markets, including digital currencies.
4. US employment data: Disappointing data on employment in the United States raised fears that the US economy was entering a recession, prompting investors to search for safe havens away from risky assets such as digital currencies.
5. Forced liquidation of financial positions: Prices fell significantly, which led to the liquidation of large financial positions in the market, especially among traders using financial leverage.
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