As a result of the drop in Bitcoin prices - Investors and supporters of Cryptocurrency experienced a shock last week as a result of falling Bitcoin prices. Almost all crypto currency trades are in the red zone. Not only that, most of them suffered huge losses, even greater than 12%, or even 15%.
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The incident unexpectedly occurred in all crypto, not to mention stablecoin, losing most of its value.
However, as always, Bitcoin is the one that gets the most attention, especially since this is the first time BTC has fallen below $ 6,000 in a long time.
At the time of writing, Bitcoin is still losing its value, with prices currently holding at $ 5,503.11 per coin, as a result of a 12.76% decline in the last 24 hours.
After this unpleasant surprise occurred, many investors began to wonder and examine the results of the recent drop in the price of bitcoin. The main question that is thought in everyone's mind, Why does this happen again?
Even though this is more understandable, especially considering how much money, time and patience people have invested in crypto, the reason behind the recent drop in prices. Even so, it's still not so clear to some people.
Therefore, we will now explain two important events that may be the main cause behind this incident.
1. Actions of selling heavily
This is believed to be the main reason behind the recent drop in Bitcoin prices. The sell-off came as a consequence of last year's bull run, which has launched BTC and other coins to its highest price of all time.
Therefore, many new investors enter the market, buy large amounts of BTC, and then make even more profits after prices have surged and reached $ 20,000.
Now, a year later, they realize that they are facing some oddities so they sell their assets on a large scale. Coupled with crypto taxes that are increasingly piled up for some country colors.
2. Ulah HardFork Bitcoin Cash
Bitcoin Cash (BCH) is one of the coins that made headlines in the past few weeks. For months, the coin is scheduled to upgrade the new system, which is scheduled for November 15, 2018. However, two parties appear in the community, both with their own ideas about how the future of BCH is.
However, due to chaos and uncertainty regarding upgrades, forks, and alleged plans to take over the BCH blockchain, investors began to panic and sell their coins for a while.
As a result, all crypto currencies plunged to the new lowest prices, which were led directly by BTC whose value dropped around $ 1,000, which was unexpected.
While the situation with the digital currency does not need to be bothered, and many see this as a sign that the market will return to the green zone.
Many experts believe that now is the right time to buy, because they expect crypto to experience price corrections in a few days.
With most people believe that the BCH hardfork is causing the current price decline.
