The Bitcoin price is crashing, You’ve probably heard the news by now. The price of Bitcoin is falling, and it’s fallen hard. The price of a standard Bitcoin on major exchanges has dropped more than 20% since it peaked at $20,000 on December 17th.
it’s clear that we’re in for a prolonged period of low volatility. Over the past few days, the market has traded in an extremely narrow range between $5000 and $5200. There have been no dramatic moves either way each time the price rises or falls by a small amount, it merely shifts around within that range before resuming its slow downward trend.
The causes are not entirely clear, but there are some obvious candidates: China and South Korea have both suspended trading on certain platforms as they investigate suspicious activity around cryptocurrencies; analysts are warning that this could lead to further regulation across the sector and some investors may be panicking after being burned by high-profile hacks in recent months at major exchanges such as Coincheck (which lost over $500 million worth of NEM coins)
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