Hello everyone @leofinance readers, first of all, I am happy that Hive is at the $1 threshold, but the decline of Bitcoin and Ethereum, the cornerstone of crypto currency exchanges, is a bit worrying, I will try to present you with good news, I hope you like it..
Bitcoin, which rose to a price of almost $ 69000 on November 10, 2021, has been falling continuously for 2 days after breaking a historical record, causing concern in the crypto money markets.
In the last two days, many investors have been experiencing financial losses, and people have started to ask questions about why bitcoin is falling on social media, whether bitcoin will rise again...
This question should be asked after Bitcoin regressed to 60 thousand dollars!
As I write this article, Bitcoin is exactly at the level of 60 thousand dollars.
And I cannot say the fluctuations in the bitcoin price during the day, you will also notice the sharp decrease.😒
Why are Bitcoin and Ethereum falling?
My research on the internet shows that one of the reasons my Bitcoin and Ethereum prices are falling is because Joe Biden is raising capital gains taxes. Another thing that draws my attention is the regulations arising from the sales transactions after the excessive purchases.
As the world's most popular cryptocurrency, Bitcoin could not hold on to the support of $ 63 thousand and still continues to decline. You can examine the changes in Bitcoin during the day in the chart below.
Retraces are healthy.
I believe that BTC are on correction mode. We should expect more of bullish trend. BTC is going to look for a strong support which will help BTC to form market structure and we should expect more bullish trend there.
Posted Using LeoFinance Beta