Why is Bitcoin dropping so much?

Why is Bitcoin dropping so much?

What is going on with the world’s most famous Crypto Currency?

The price fell under $30,000 per coin today, falling more than 50% since the price highs. Back when the coin approached $70,000 per coin. In addition, predictions flooded into the financial markets of much higher prices.

In fact, when we interviewed the Winklevoss twins, they felt the coin had a value approaching $400,000 per coin. This is the implied value per coin based on the total value of the gold market.

Winklevoss Twins on Bitcoin Price & Gemini
Many believe bitcoin is the digital gold of our time. The way oil was the black gold of 100 years ago.

However, maybe bitcoin will eventually reach the values per coin. Where bitcoin is equivalent to gold.

Is Bitcoin likely to fall again? Ie, will we see another price leg lower for the digital coin?

If you look at Bitcoin’s fall in 2017-2018, the price reached nearly $20,000 before falling back to below $5,000. Or a 75% drawdown in value.

So in conclusion, if you look at the high of near $70,000. This drawdown could bring prices to between $20,000 and $15,000?

Back To News

Why is Bitcoin dropping so much?