Why is bitcoin coming down 10K? Its been 1 month and we haven't seen profit in bitcoin. Its price is decreasing day after day. Why is it so?
There are really a lot of factors that contributed to the downfall of bitcoin lately. Recently, there were news coming from the Government of India saying that they are going to ban crypto. This cause panic from investors resulting to the price going down. But if you have to read it carefully, they are not banning it. And then there's the US regulators subpoena Tether and Bitfinex, again this negative news is another major factor to the market crash. Then government around the world discussing a tighter regulations if not total ban of bitcoin and cypto.
But you need to remember that this is another test that we can overcome. Bitcoin has the ability to recover from such attacks, market crash, price correction, government bans and others. If you are thinking of dumping it, I advise you not to but long at your investment in the future. Long term investment in bitcoin will really bring good financial gains. So stick with it.
