In this article, we will discuss a question
that is frequently asked by cryptocurrency users recently. Why is Bitcoin going
down in value? There are many reasons behind this question. Bitcoin is
experiencing a major decline towards the end of 2019, as will be discussed
below. We will examine three of the factors causing this decline. For more
information about Bitcoin, please visit our blog.
After the Blockchain news from the People’s
Republic of China last month, the price again reached $ 10,300. This climb was
the final peak of 2019, according to many crypto analysts.
After declining from $10,000, the BTC
dropped to $ 6600-6900 on November 25, 2019. Looking at 2018, we were again
faced with a downward trend. Bitcoin went down to $3,000 in November 2018 and
early December, declining by 50%. What are the reasons for this decline?
3 Reasons behind Bitcoin’s Decline
The first factor affecting the decline of
Bitcoin is known as whales. When we look at the news in recent days, a 44,000
BTC transaction was carried out by a whale before the decline. It is obvious
that this process affects the BTC value.
Another important factor in the fall of BTC
is the manipulations that emerged about China. Claims that stock exchanges such
as Bithumb and Binance were shut down in China had created a fluctuation in the
cryptocurrency market. Such situations affect the cryptocurrency market.
One of the arguments made by expert cryptocurrency
analysts about the decline is the high values seen in early 2019. BTC, which
went above the level of $ 10,000, is in a position to consolidate the debt
maturity period according to many analysts. This situation is expected to
continue until it hits rock bottom.
In this article, we have listed the major
claims about the Bitcoin decline. If you are interested in trading Bitcoin,
Ethereum, Ripple, Litecoin, Dash, Tether, BNB Coin and other cryptocurrencies,
you can visit Cointral branches and our website.