Bitcoin: the reasons for the price collapse for several weeks

ECONOMY – Bitcoin has lost more than $25,000 in value in two months

For the first time since October, Bitcoin briefly dipped below $40,000 on Jan. 10. The cryptocurrency had reached a new all-time high when it broke above the $69,000 mark on Nov. 10. There are several reasons for this drop.

A natural “correction”

Why the price of Bitcoin has plummeted in recent days – Geeko

After a growth period of several weeks, cryptocurrencies usually go through what is known in jargon as a “correction”. They reach a peak, a price set by many traders where many investors have chosen to set a sell order to take their profits. As the amount of sales exceeds the amount of purchases, the price retracts and falls several percent in a few days, dragging down the prices of all other cryptocurrencies. It then naturally levels off when demand meets supply, before resuming its flight. Once the $69,000 mark was reached, Bitcoin underwent one of these corrections. Logically, its price should have stabilized around $55,000, but the progression continued.

The importance of models

Most traders rely on trading models to code their buy and sell orders. In the world of the crypts(…) Read more in 20minutes

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