general

What are the reasons for the decline of Bitcoin and its fall below 20 thousand dollars?

What are the reasons for the decline of Bitcoin and its fall below 20 thousand dollars?

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer What are the reasons for the decline of Bitcoin and its fall below 20 thousand dollars?

Bitcoin, the world’s largest cryptocurrency, has fallen to touch the $18.6 thousand price level in the past three months.

The market showed some resistance yesterday.

However, the heavy selling shook the entire crypto market.

Why did bitcoin prices fall?

According to experts, the number of whales depositing their bitcoins on exchanges has increased dramatically.

The data indicates that about 90% of deposits in trading platforms were from whales.

Mention Ki Young Ju, CEO of Cryptoquant, said that about 15,000 bitcoins have been transferred over the past ten days.

Read:Will Bitcoin decline to close the price gap at $9665?

Some of them were sent to crypto exchange Kraken.

In a report, an expert stated that the $20,000 level was the iconic level for Bitcoin as it was the highest price during the 2017 bull market.

However, bitcoin prices are down about 6% in the past 24 hours.

Experts reported that just before the bitcoin price fell, the exchange rate of whales rose.

The sharp rise indicates that whales are actively depositing bitcoins on exchanges.

He added that the percentage is still high and growing.

This is a troubling issue but it still reflects bear market behaviour.

Extensive filters:

Deposit in trading platforms is on the rise, as the global crypto market recorded liquidation of more than 360 million dollars in the last 24 hours.

Coinglass reports that the largest single liquidation on Okex has been recorded at $2.57 million.

According to the data, more than $125.6 million of Bitcoin has been liquidated in the past 24 hours.

Read:The crypto community was angry after the recent decision of the Binance platform!

Bitcoin is currently trading at an average price of $19,300, at the time of writing this article.

The 24-hour trading volume jumped 10% to $39.9 billion.

The crypto market is also down over 4% over the past day.

The total value of the crypto market is now $948 billion.

Read also:

Over $100 Million Liquidated After Ethereum Rally Over $1,600

Bitcoin Restores $19K Level, Altcoins Bounce Again…How Far Can It Go Up?


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Binance Aggregator Advertisement Support Ethereum Classic Mining…Details Here
Next post
Digital currency (LUNC) shows positive movement and jumps to the list of the top 30 digital currencies by market capitalization