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Why is Bitcoin currently experiencing a major drop (Why has Bitcoin recently fallen so much)?

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Why is Bitcoin currently experiencing a major drop? On December 10, 2018, as glo

Why is Bitcoin currently experiencing a major drop (Why has Bitcoin recently fallen so much)?

Why is Bitcoin currently experiencing a major drop?

On December 10, 2018, as global financial markets continued to decline, central banks around the world began to raise interest rates. The US Treasury yield rose from 6% in March to 7% in early April, setting a new record. At the same time, the US dollar index also soared, and gold reached historic highs. However, over the past two months, the price of Bitcoin has fallen back to around $10,000. According to Coinmarketcap data, BTC is currently priced at $5,980, with a weekly increase of 14.68% and a 24-hour decrease of over 9%. BTC/USDT is priced at $5,825, ETH/USDT is priced at $8,375, and XRP/USDT is priced at $0.196.

Why has Bitcoin recently fallen so much?

Why has Bitcoin recently fallen so much?

As the prices in the cryptocurrency market skyrocketed, more and more investors turned their attention to Bitcoin. According to CoinDesk, over $1 trillion in trading volume has been transferred to Bitcoin since February of this year. Although there are currently no clear indications in the market that these assets may be depreciating, this trend may continue in the long term and last until the end of 2021.At the time of writing this article, BTC/USDT has dropped 2.6% in the past 24 hours, at $10,650; ETH/USDT has dropped 3.62% in the past 24 hours, at $14,370. In addition, there has been a large-scale liquidation, with over $50 million worth of Ethereum stolen (approximately $25 million); at the same time, there have been two major cases related to ICOs involving cryptocurrency exchanges Kraken and Bitstamp, as well as some other large exchanges. One of them is the founder of the crypto derivatives platform BitMEX, Arthur Hayes, who is also facing charges of fraud and other crimes. (TheDailyHodl)

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