Bitcoin is Like a Seesaw
The price of Bitcoin these days is like a seesaw, one day going up and one day going down. In recent days, the price was about 67 thousand dollars, but now it has fallen to about 66 thousand dollars, meaning a decrease of about 1000 dollars. People who follow digital currencies know that this is not new to Bitcoin, the price is always fluctuating, and this is normal in this market.
This fluctuation occurs for many reasons, including international news, government decisions, and even rumors that spread quickly. You may find that the price suddenly rises when there is positive news, such as large companies adopting Bitcoin or countries accepting it as a means of payment. At the same time, any negative news or fears of new regulations could cause the price to fall.
The recent decline may have resulted from normal market movements, or there may be fears that prices have reached a strong high level and a correction will begin. This is normal for people to sell to secure their gains when they see the price reaching a certain number.
But despite this fluctuation, there are people who still believe that Bitcoin has a great future, and they consider these periods of decline as opportunities to buy at lower prices. What makes the issue more interesting is that no one can predict what will happen next: Will the price rise again or will we see a further decline?
If you are interested in investing in Bitcoin, you must be prepared to bear it and keep in mind that the price may change suddenly. Most importantly, do not make a decision based on the day-to-day movement, but think about the strategy in the long term.
The recent dump was likely due to the US government moving 2 billion dollars worth of its Bitcoin to another address, possibly in preparation for a sell operation.