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Bitcoin course sees crash again - What are the reasons?

 


How has the Bitcoin price moved in recent months?

In the last few months we have seen the Bitcoin price fall sharply, especially in 2022. In November 2021, the Bitcoin price was still at an all-time high of over $68,000. But as a result, the bear market set in and Bitcoin saw massive losses in the months that followed.

By the turn of the year, the Bitcoin price saw a sharp drop. At the turn of the year, the course only went to $48,000. Bitcoin continued to fall relatively sharply in January and February. In March and April the price was able to stabilize again until we saw further massive drops in May and June. Bitcoin price fell below $18,000.


How has the Bitcoin price moved in the last few weeks?

The Bitcoin price has seen a slight stabilization and even an increase in cryptocurrency prices in recent weeks. The Bitcoin price rose again in July and August and ended up at a price of over 24,000 dollars. The course rose by more than 25%.

Other cryptocurrencies such as ether also saw strong increases during this period. Ether in particular rose sharply. The cryptocurrency partially doubled in value from $1,000 to $2,000. The rise in the Bitcoin price once again had a good impact on the prices of other cryptocurrencies.


What were the reasons for the apostasy?

 The drop in cryptocurrencies has been repeatedly predicted over the past few days. After all, we are in a bear market in which price increases usually only last for a short time. This is now the case. The bears have taken over the market and Bitcoin price again. The increases of the last few months were just an exception in the current market situation.


The rise of bitcoin and other cryptocurrencies resulted from several positive factors . The market parameters on the stock markets have been rather positive in recent weeks. US jobs data were surprisingly positive and markets reacted extremely positively to the Fed raising interest rates to fight inflation.


A rebound in Bitcoin price seemed highly likely due to the short-term nature of these events. The hype about the upcoming Ethereum Merge seems to be waning and the international markets are also cooling off. This in turn affects the Bitcoin price. 


When can the Bitcoin price rise again?

The current crash in the Bitcoin price is letting the emerging optimism flatten out a bit. Many investors hoped that the Bitcoin price and thus the overall market could continue to rise in the medium term. That optimism is now somewhat muted. 


Bitcoin course

But the low prices could now be an entry point for Bitcoin again. There is still potential for price increases. Analysts believe that prices around the $20,000 area could trigger strong short-term buying interest. Furthermore, the Relative Strength Index (RSI) shows that Bitcoin is still oversold.


Is it still worth investing in bitcoin?

An investment in Bitcoin could be particularly worthwhile in the long term given these low prices. This is shown by the parameters mentioned. Still, the bear market could drag on for a few more months. That's why patience is worthwhile when investing at the moment.


A further increase in the Bitcoin price is clearly possible by the end of the year. In this article , we talk about the different scenarios Bitcoin could face by the end of the year. As such, the low prices present an excellent buying opportunity at the moment. 

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