For the first time in four weeks, the price of Bitcoin (BTC) has dropped to below $30,000. Wall Street analysts say hodlers are panic selling many top-performing assets including Bitcoin.
This sudden drop has led some analysts to believe that the time has come for the price of BTC to drop further. At the time of writing, according to CoinGecko, Bitcoin is trading at $29,755.10.
Since mid-May, the price of Bitcoin has been staggering between the $30,000 to $40,000 range. Moreover, on June 22, the price of Bitcoin dipped below $30,000 but recovered soon after.
To highlight, the dip at that time was because the People’s Bank of China chose to exit the field of Bitcoin and crypto trading. This move meant all major financ…
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Source: Cryptocurrency - investing.com
