Topic: What is the reason of the recent drops in Bitcoin price? - page 3. (Read 509 times)
Bitcoin works as like the demand and supply. If the demand is high then relatively bitcoin supply will last and its price also is expensive. This is the indicators of purchasing bitcoin. Buying bitcoin if there are many supply will be ideal for it we could recognize the price surely cheaper. So essentially if we are here making an investment therefore we should buy when the price of bitcoin is low. However the main reason why there higher droppings of market bitcoin price is that there are rich peoole investing in it. And once they sell their coins relatively it will create.an impact to the demand and supply of bitcoin.
Many holders sell their Bitcoin instead of holding it they might get panic when the wave becomes big and think that it will continue and never stop but we should remember that there is always a sun after the rain same as Bitcoin fall it will pump sooner.
At a basic level, low volume. In fact, today Bitcoin saw the least amount of volume it’s seen since late November. It’s about half of the volume average of the last 30 days. The last time volume was this low, the BTC price (and therefore market cap) were almost exactly the same.
If we bounce off this uptrend and find consistency at this level of volume, we could finally be in for some consolidation - some sideways price action.
This is what we need to see before we can expect any major move up BTC
If we bounce off this uptrend and find consistency at this level of volume, we could finally be in for some consolidation - some sideways price action.
This is what we need to see before we can expect any major move up BTC
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