Crypto Analysis

Why is bitcoin falling? It fell below 43 thousand dollars

Bitcoin, which broke the record of all time with the level of 69 thousand dollars in November, could not enter the end of the year with a great upward movement as expected. The biggest crypto money, which fell with the effect of the Omicron variant formed in South Africa at the beginning of December and saw the level of 42 thousand dollars, then recovered but could not reach the expected levels.

Fed and Kazakhstan news hit

Bitcoin, which has been going between $ 46 thousand and $ 50 thousand for the last few weeks and making sharp movements in this range, hardened its downward movement after the news from the US Federal Reserve (Fed) and Kazakhstan last night.

The announcement of the minutes of the Fed meeting held in December and the comments on the formation of the conditions that will lead to an increase in interest rates further increased the downward movement in Bitcoin. It is stated that the riot news from Kazakhstan, which is stated to have 18% of the Bitcoin hash rate in the world, the interruption of the internet in the country and the impact of mining pools also have an effect on the price movement.

The biggest cryptocurrency, which was above $ 43 thousand in the morning, fell below this level in the afternoon. Bitcoin is trading at about $ 42 thousand 600 at the time of writing the news.

“Bull or bear?” controversy

Experts are also divided on Bitcoin and the course of the market. One side states that the bear market is coming, while the other side insists that the bull market cycle is prolonged. As it is known, record price predictions were made for the end of 2021, but the fact that the price was much lower than expected caused many experts to make “The cycle is extended” comments.

Similar discussions were held in the summer, when Bitcoin fell to the level of 29 thousand dollars.

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