Earlier this year, i wrote, the argument today is that bitcoin is, at the very least, a store of value, like gold, and this has driven demand in recent months. I don't think any realisati. Bitcoin is down 2.14% in the last 24 hours.
Why Is Bitcoin Going Down/Up?
Bitcoin netflow shows deep negative spike as 30k btc exits. To keep things simple, it seems that the federal reserve is dialing back on its monetary policy support while reducing the number of bonds they hold. Part of the reason behind this sharp decline in the value of bitcoin is down to policy changes from the us federal reserve, as its chair, jerome.
Last But Not Least, We Have Normal Volatility.
As of this writing, it is down about 11% for the year. Today (wednesday, may 19, 2021), the world’s most popular digital asset, bitcoin fell below $37,000 for the first time in over three months. The value of bitcoin is determined by how much people are willing to exchange it for and its price has fluctuated wildly since its launch.
We Believe That Bitcoin’s Average, Maximum, And Minimum Prices In 2023 Will All Be Rather Tame.
Price goes up when buying pressure increases, and goes down when selling pressure increases. This isn't how many investors expected cryptocurrencies to behave in the face of inflation. The first most likely factor why bitcoin is going down in prices could be the actions taken in the fed’s december meeting.
Why Has The Bitcoin Price Gone Down?
I recently completely exited my long bitcoin position, i'm going to briefly explain why. Bitcoin has always been volatile, and 2022 has been no exception to that general trend. The first quarter of 2023 will likely see the btc price staying at the $40k level.