Bitcoin (BTC): Reasons behind the recent price collapse


In the past month, the cryptocurrency market has experienced a decline of more than $60 billion, with many major cryptocurrencies recording double-digit drops in prices. Being the most important cryptocurrency in the market, Bitcoin fell to $3,200, which is a new low since September 2017 and has since fallen around 80% from its peak in 2017. Consequently, the decline of Bitcoin has also pulled down the cryptocurrency market, thus contributing to the big drop in most digital currencies.

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