Those who buy and sell cryptocurrencies are upset. Just 5 days ago, Bitcoin, the father of all cryptocurrencies, fell below the level called ‘never fall’: $25,000 . We even shared this news with you that day and made our analysis.
Today, however, Bitcoin’s hard crash continues as Bitcoin fell below $ 20,000. Let’s take a look at the details together.
Bitcoin drops below $20,000
Bitcoin fell below $20,000, upsetting all cryptocurrency traders. In fact, Bitcoin, which was at $ 19,000 when we started to write the news, decreased to $ 18,000 at the time we prepared the news.
Although it is not possible to say for sure the reason for Bitcoin’s decline, one of the possible reasons is inflation in the USA , and one is the attack on the Celcius Network . Celcius, as you know, is the largest lender of the cryptocurrency exchange. The attack has devalued cryptocurrencies by 50% and the effects may be lingering. However, it is thought that the new interest rate hike announced by the Fed in the past few days may also be effective in this sharp decline of Bitcoin.
So one of the reasons could be the decrease in trust in crypto money. If it drops at this rate, will Bitcoin fall back to the $10,000 level? What are you thinking? Please do not forget to share your thoughts with us in the comments section.
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