Seen as a haven for investors until now, Bitcoin is beginning to make a lot of investors lose money. According to reports, Bitcoin started going down about one week ago. This is a result of big sell-offs in the cryptocurrency markets. Bitcoin was down to about $30,000 as of today Wednesday 19th May 2021
According to investors and traders of Bitcoin, the cryptocurrency has not traded below $30,000 since late January. This means that a lot of people have lost a lot of money in the recent plunges of the bitcoin to the level of $30,000
It’s not too clear what is causing these continued major sell-off by investors of the cryptocurrency but what is evident is that the sell-off will continue for some time since the uncertainties will likely push more investors into the sell-off mode. This means that more Bitcoin investors will lose money as a result of the current trends.
It’s not clear how or when the trend will stop
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