Why is Bitcoin falling, how much more will it drop?
Bitcoin prices have reached their lowest point in the past year. The downward trend continues and is expected to continue in this way for a while. It has been going down for a long time – fluctuating activity. 2022 Bitcoin and cryptocurrency market fluctuations continue. With last night's drop, Bitcoin bottomed out. Investors are also asking the question of how much Bitcoin will fall. So how much is Bitcoin worth? Here are the details…
Bitcoin continues to decline. Bitcoin, which is currently at the level of 30 thousand dollars, decreased to 28 thousand during the day. Bitcoin, which saw $ 63 thousand in November 2021 and started to go down after seeing the peak, is seen to increase worldwide inflation and US interest rates. Citizens also ask the question of why cryptocurrencies are falling. So, why is Bitcoin falling? Bitcoin price 2022…
Why Is Bitcoin Falling?
Global stock markets are down. Although Bitcoin tries to be independent from central banks and big companies, it still does not have full autonomy. As a result of the increase in inflation in the global economy, there was a decrease in Bitcoin.
At the same time, cryptocurrencies fell as a result of the US central bank FED’s interest rate increase. There was a serious decrease in December as the Central Bank reduced the dollar printing.
While LUNA, the crypto money of the Terra network, dropped 97 percent in 1 day, the panic also relapsed into Bitcoin. Bitcoin’s value plummeted when the Luna Foundation Guard bought 1 billion worth of Bitcoin to raise the value of the UST stablecoin to $1. Trading on exchanges using UST was disrupted, LUNA plummeted. It is known to have lost 100 percent of its value.
How Much Will Bitcoin Fall, Will It Rise Again?
According to the experts, panic sales are expected for Bitcoin to fall below 28 thousand. If panic sales do not occur, Bitcoin can rise to the level of 32 – 33 thousand from here. This level is still not a sufficient level for Bitcoin.
How much is 1 BITCON?
1 Bitcoin is currently trading at $29,080.70,