$BTC

Bitcoin falls in the market after historic days

Analysts believe that the cryptocurrency may trade below 90,000 USD again after the strong correction it recorded in the early hours of this Tuesday

The cryptocurrency #BTC🌪️ dropped sharply in the market and reached the mark of 91,880 dollars per unit after hitting historic highs above the mark of 99,800 dollars. These latest movements marked a feeling of uncertainty among investors, as some begin to wonder if this is the highest value the currency can reach.

Analysts believe that this latest correction could cause bitcoin to navigate below the 90,000 mark again before resuming its upward trend towards six figures. This valuation surprised investors, as they believed that the main crypto in the market would reach a quotation of 100,000 dollars by the end of November. Created by Satoshi Nakamoto in 2008, this digital currency promoted a libertarian ideal and sought to challenge traditional monetary and financial institutions after the global financial crisis experienced that year.

Bitcoin uses cryptography to ensure that its operations are not regulated by any institution or banking entity, which in turn has placed the currency in the midst of a debate about its volatility, as it does not require intermediaries and has been pointed out for facilitating illegal activities such as fraud.

Despite the skepticism, there are those who have bet on bitcoin: El Salvador became the first country to adopt this cryptocurrency as legal tender on June 9, 2021, and Honduras Próspera, a special autonomous zone in Central America, has also done the same.

The increase in the value of bitcoin occurs in a context where there is a massive influx of capital into cryptocurrencies, indicating a growing interest and confidence from investors in these assets. $BTC