Why did bitcoin drop today

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What fluctuates bitcoin
Crypto Prices Drop After Russia Calls for Ban
It has often been reported that Bitcoin price changes are uncorrelated with other assets’ price changes making Bitcoin a good diversifier of risk in asset portfolios. We use daily, monthly and quarterly returns of the S&P500 and Bitcoin for the period August 2011 to August 2020 to test this feature of Bitcoin. What fluctuates bitcoin What are the expectations for the future of Bitcoin? Amongst the strongest believers in the future of Bitcoin are industry leaders like Mark Cuban who used to disparage Bitcoin once upon a time. Bitcoin is the giant of the financial cryptocurrency market, and it continues to draw more investors, making the traditional financial space sit up and take notice.
Will bitcoin rise again

Bitcoin (BTC-USD) and other cryptocurrencies have experienced a sudden crash last Saturday, going down to mid-40k levels, which have not been seen since October this year. The markets recovered since then, but such a crash could be an ominous sign for what the near future holds for the price development of crypto assets. Latest About Bitcoin However, in situations where this did not result in a loss of important support levels, a strong bounce followed. Only this initiated an actual bull market. Conversely, when Bitcoin after the golden cross collapsed below long-term support – as in the case of the COVID-19 crash – the entire cryptocurrency market reached new lows.

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When talking about Bitcoin’s price, people are usually referring to either the USD price on a leading exchange (such as Bitfinex, Binance, or Bitstamp) or a composite price made from the average of multiple exchanges’ prices (e.g. CoinGecko). Who created Bitcoin? It is down about 59% this year, while rival cryptocurrency Ethereum-backed ether is down 73%.
Bitcoin change

Most cryptocurrencies, including Bitcoin and Ether, are purely digital assets with no backing of any physical commodity or currency. Which means their price is determined entirely by the laws of supply and demand. In absence of any other stabilising factor, like government backing, any number of reasons may lead to a fluctuation in demand or supply. More from our network Bitcoin prices are currently hovering around $16,500, down from a level of $20,000 just a week ago. Still, even at $20,000, that was a far cry from the price of just north of $46,000 that bitcoin was trading at on the last day of 2021.

Will bitcoin rise again