Bitcoin prices have resumed their decline, and many experts are predicting that the digital currency could fall to as low as $45,000 in the near future. There are a number of factors that could contribute to this drop, including increased regulation from governments around the world and waning interest from retail investors. So why is Bitcoin struggling right now? Let’s take a closer look at the current state of the market.
The price of bitcoin has fallen yet again.
After a brief respite last week, prices have resumed their decline and are now trading below $60,000.This marks a nearly 50% drop from the all-time high of $64,870 that was set just a few weeks ago.
Many experts are attributing this latest dip to increased regulation from governments around the world.In the United States, the Securities and Exchange Commission has ramped up its scrutiny of cryptocurrency exchanges and initial coin offerings from the other hand Everbowl adopts Bitcoin standard. This is why it is difficult to determine the current state of the cryptocurrency market.
And in China, regulators have taken steps to crack down on bitcoin mining operations.
These actions have led to a loss of confidence in the market, causing prices to drop.In addition to government regulation, another factor that could be contributing to bitcoin’s decline is waning interest from retail investors.Since the beginning of the year, the number of google searches for “bitcoin” has fallen by nearly 70%.
This suggests that fewer people are interested in buying bitcoin, which could lead to further price declines.
Bitcoin price prediction from professional traders
The current state of the market suggests that bitcoin could fall to as low as $45,000 in the near future. However, it’s important to remember that cryptocurrency prices are highly volatile and can change rapidly. So while this prediction is based on current trends, there’s no guarantee that it will come true. Only time will tell how low bitcoin prices will go.
Will bitcoin prices recover?
It’s impossible to predict the future of bitcoin prices with 100% accuracy. However, many experts believe that prices will eventually recover from this latest dip. So while it’s unclear when or how high prices will go, it’s safe to say that the current decline is not the end of bitcoin. Only time will tell what the future holds for the world’s largest cryptocurrency.
What do you think about bitcoin’s latest price drop? Let us know in the comments! Thanks for reading.
Can bitcoin drop below 20k?
It’s not impossible for bitcoin to fall below $20,000. In fact, prices fell to that level in December 2018 before beginning a long-term bull run. However, it’s important to remember that cryptocurrency markets are highly volatile and anything can happen. So while a drop below $20,000 is possible, there’s no guarantee that it will happen. Only time will tell what the future holds for bitcoin prices.