Bitcoin Appeared Again? Why The Crypton Shredded: Causes

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January 31, 2022
2 minutes

Last week, the crypts showed confident growth, and experts managed to see in this prerequisites for the beginning of the sustainable growth of bitcoin and other cryptocurrencies. However, on february 24, the industry waited for another fall. Cumulative capitalization of the cryptocurrency market fell by $ 15 billion.

Bitcoin Fell Again? Why The Crypton Shredded: Causes

On the eve of bitcoin demonstrated confident growth, and experts suggest that he would still be able to punch at $ 4,000. However, this did not happen. In the cryptocurrency market fell from $ 143 billion to $ 127 billion.

Why the crypton shredded?

Some experts believe that cause of such a phenomena was an increase in the number of bots, which was provoked by the growth of activity on cryptors. Analysts also do not exclude the likeliahood that the bots were attracted by trading platforms to increase the volume of trading, which led to artificial overestimation of prices – specs. After the cost of coins rose to the required level, the bots stopped their work, and the prices returned to the previous position.

According to other experts, the cause was the inability of bitcoin to overcome the following threshold at $ 4200. This has deployed market traffic in the opposite direction.

According to another version, the reason was the technical problematic problems of the cryptocompare website, which provides data on the state of cryptocurrency in real time. Cryptoenthusists noted that such a phenomenon occurred in the market at the moment when the coinmarketcap resource ceased to reflectcap resource ceased to reflectoch.

Previously, experts from sbi holdings suggested that the xrp coin has every chance to replace bitcoin in the near future.

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