Recently the price of bitcoin has gone so low creating a panic situation in the market. The investors and traders started taking out their funds from the cryptocurrency market. Whereas some started claiming a Bitcoin as a bubble.
But what can be the actual reason for the price of bitcoin to go so bearish. If you want to know them keep on reading the article below:
Media plays a very vital role to make and worsen the image of any individual, company or thing. Today’s time where every single person is running towards the technology like a smartphone, internet media is following us everywhere. The news agencies making headline and news events on events like the bankruptcy of exchange, China shut down the exchanges make people panic for their investments.
Bitcoin Price Fluctuates
Bitcoin is said to be very close to gold in terms of investment. The price fluctuates against the fiat currencies as BTC is a stored value and limited in numbers. The BTC is decentralized and totals 21 million which are being mined. Whereas the fiat currency is controlled by the government and has no fixed amount of production.
The announcement of the tax on the gain of BTC by the government and the upcoming regulations are making an impact on the bitcoin price growth. On the first hand, the countries are slowly moving forward to adopt the cryptocurrency and on the other side, some are still not able to make up their mind for which way to choose. Although the comments come from them on bitcoin disturbs the cryptocurrency industry.