After surging to around 13 100 it suffered a significant loss which brought its price back to about 11 600 a decline of more than 11. Bitcoin goes down altcoins still go down the last week has been nothing but tumultuous for bitcoin. I m gently blowing the wrong end of the rally horn more good news for bitcoin bulls.
Bitcoin recently 11 300 will settle back below 10 000 by year s end. The bitcoin price which had found a temporary floor of just. Bitcoin has again begun moving lower following broader financial markets down as investors count the cost of the spreading coronavirus.
We could see bitcoin going up to 50 000 by the end of this year said trenchev. Nexo co founder antoni trenchev recently explained why the bitcoin price could rise to 50 000 in 2020. The crash in march was directly tied to the covid 19 pandemic but it is not always obvious what is behind fluctuations.
There are not always clear reasons for why bitcoin s price goes up or down. Lost of trust in fiat currencies. Media hype fud.
There are several major factors that can cause the price to go up or down such as. Price goes up when buying pressure increases and goes down when selling pressure increases. Bitcoin s price is defined by the last trade conducted on a specific exchange.
Why is bitcoin going down up summary.
