Cryptocurrency prices witnessed a significant decline today, as Bitcoin fell by 3.3% to $95,778.47, deepening its losses over the past seven days to 6%.
This decline is attributed to several factors, most notably:
1. Weak market movement due to the Christmas holiday season: During the holidays, trading activity decreases, leading to greater price volatility.
2. Profit-taking: After previous increases in cryptocurrency prices, some investors sell their holdings to realize profits, which puts pressure on prices downward.
3. Natural volatility in the cryptocurrency market: This market is known for its high volatility, as prices are affected by multiple factors such as news, speculation, and changes in supply and demand.
It is important for investors to follow the news and developments related to cryptocurrencies, understand the factors affecting the market, and make informed decisions based on that.