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Bitcoin (BTC) Price Index


Why is Bitcoin Falling? Hard Movement in Cryptocurrency! Bitcoin Price August 20, 2022


Bitcoin

Cryptocurrencies, which have been in a downward trend since the beginning of the week, fell sharply on the last trading day of the week. It was wondered why Bitcoin, which accelerated its decline in the last 24 hours, fell and its latest situation. So, why did Bitcoin drop, how much? Here is the price of Bitcoin August 20, 2022 …

Bitcoin, which is among the cryptocurrencies that has been on the agenda with its frequent declines recently, has fallen to its lowest level in 6 months. As of 10.25 am, the decrease in Bitcoin was 5.9 percent. The price of BTC fell to the level of $ 21,701.

Cryptocurrencies have been following a downward trend again in recent days. Bitcoin, which is among the cryptocurrencies that has been on the agenda with its frequent declines recently, has fallen to its lowest level in 6 months. Bitcoin, which has risen above the critical threshold of 25 thousand dollars, could not maintain its permanence here and accelerated its decline. As of 10.25 am, the decrease in Bitcoin was 5.9 percent. The price of BTC fell to the level of 21 thousand 444 dollars.

Why Is Bitcoin Falling? Substance Reasons

Cryptocurrencies are following a downward trend for the following reasons.

  • Rising tensions between Russia and Ukraine
  • Expectations that the US Federal Reserve (Fed) will tighten its monetary policy faster. At the Fed's meeting, which will be held in September, pricing has begun to suggest that the policy rate may be increased by 75 basis points.
  • With the increasing concerns about geopolitical risks, sales intensified along with the volatility in the markets.
  • Energy developments and recession expectations in Europe also started to shape investments.
  • As a result of the dollar index reaching the highest level of the last 1 month by exceeding 107,774, the escape from risky assets accelerated as investors turned to the dollar, which they see as a safe asset.

All of these factors increase the Bitcoin decline rate.

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