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Showing posts with the label Ethereum (ETH) News 2023

Bitcoin's bearish trend: why cryptocurrencies have fallen in price so sharply

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Crypto markets have finally come around: in recent weeks, a change in the price of major cryptocurrencies by even 5% was far from a frequent occurrence. But over the past seven days, the value of bitcoin has plummeted by more than 10%. Bitcoin After several weeks of low volatility, when the price of bitcoin practically did not change, the value of the first cryptocurrency collapsed by 10% at once. Almost the entire week was spent in the red zone, and the biggest fall was on Thursday, August 17, when BTC fell by more than 7%. Bitcoin Chart The first negative factor of such dynamics of the world's first cryptocurrency by capitalization was the news that Elon Musk's company Space X sold its savings in BTC in the amount of $373 million. The amount itself is significant, so even private investors, having learned about the sale, could quickly get rid of their bitcoins in a panic. Another catalyst for negative dynamics could be the publication of the minutes of the July meeting ...