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What’s behind Bitcoin’s slide and what investors should be doing right now
Why did Bitcoin’s value slide and what do experts believe investors should be doing right now
What’s behind the Crypto crash?
Anyone who’s been interested in cryptocurrency knows that it’s volatile with its “boom and bust” cycles.
Bitcoin has fallen below US $20,000 dollars for the first time since November 2020
Over the last 7 months its value has shrunk by more than 70%
So why are digital currencies losing value?
Global stocks have gone into a downturn due to a number of factors including:
The war in Ukraine, Inflation and high interest rates.
In June, a major US crypto currency trading firm froze withdrawals and transfers citing “extreme conditions”
This led to a sharp drop in Crypto Currencies.
Some experts say China’s crackdown on crypto also plays a role, and there are some rumors that Russia might stop its crypto trading.
There have also been major sell offs of cryptocurrencies causing panic.
Many are wondering whether Bitcoin will recover.
Given its volatility, It may garner up some momentum.
But the truth is, due to its nature it is unpredictable.