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From an all-time high of $ 58,000, the price of Bitcoin has dropped by $ 10,000 in just 10 hours.
At noon on February 22, Bitcoin broke its own record when the price of the coin reached 58,250 1 Bit. This price level pushed the market capitalization of the digital currency above $ 1.2 billion. However, the market faltered when a few hours later, the price of Bitcoin had a strong correction.
As pointed out by Pv. VietNamNet, at 9pm on February 22 (Vietnam time), the price of Bitcoin has dropped to just $ 47,600. Compared to the peak price this afternoon, this coin is down 20% in value. At this point, Binance, the world’s largest Bitcoin exchange, has encountered a situation of shaking and inaccessibility.
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| The price of Bitcoin fell 20% on the night of February 22. |
There are many reasons for the sharp drop in the price of Bitcoin. First, there is the profit-taking psychology of big investors. The price of Bitcoin has increased continuously since the end of January, during this period, from the price of 30,000 USD, the price of the virtual currency has doubled. Therefore, many investors will feel that this is a favorable time to profit and wait for the next price movement.
The second reason for Bitcoin’s shocking price drop is fear of small investors. The Bitcoin craze of 2017 clearly left a profound lesson for Bitcoin investors. Despite maintaining an optimistic sentiment for the emergence of more and larger investors, many people still fear that the Bitcoin bubble could burst at any moment.
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| Many investors fear the moment when the Bitcoin bubble will arrive. |
Also, another reason for the sharp drop in the price of Bitcoin may come from the shocking statement by Bill Gates. The founder of Microsoft believes that Bitcoin is a redundant invention. He also confirmed that he does not currently own any cryptocurrencies.
Billionaire Elon Musk’s tweets once sparked the Bitcoin craze. So, with the statement of an equally famous billionaire, Bill Gates, it is believed that it will have the same effect on market investors.
However, there is still some positive news for lovers of the virtual currency Bitcoin. Immediately after the price of Bitcoin fell, the currency quickly regained its value. Just half an hour later, reaching $ 47,600, the price of the virtual currency Bitcoin quickly returned to $ 53,000. Surely many investors still believe that the latest shock was just a Bitcoin price correction before setting new records.
Trong dat
