Bitcoin plunges: will crypto drop below 100,000 dollars?😱😱😱
Bitcoin has suddenly dropped below 110,000 dollars, moving away from its historical record. As several American banks face difficulties, speculators fear that Bitcoin will continue its decline... until it drops below 100,000 dollars. Let's take stock of the market situation.
Less than a week after the flash crash that bled the entire cryptocurrency market, the price of Bitcoin has suddenly fallen below 110,000 dollars. The digital currency moves even further away from its all-time high of 126,000 dollars, which dates back just a few weeks.
●Why is Bitcoin crashing?
It is possible that the price is reacting negatively to the difficulties faced by several American regional banks, reports CoinTelegraph. Several institutions like Zions Bancorporation and Western Alliance have announced losses resulting from unpaid loans by their clients. The stock prices of banks have plummeted on Wall Street, pulling the financial markets down. Many analysts fear that the banks' problems may spread to the rest of the economy.
● A return below 100000$ for Bitcoin?
Unsurprisingly, investors now fear that Bitcoin will continue its decline below 100,000 dollars. Speculators believe that a drop below this threshold will force Bitcoin to retreat to the range of 96,000 and 98,000 dollars.
Moreover, some indicators suggest that the value of the cryptocurrency is poised to rebound. Many investors have taken advantage of the drop to buy Bitcoin at a low price.
source: 01.net
