The Bitcoin price was able to hold around noon today at around 39,000 US dollars, which was already slightly below what many analysts had expected. But what followed after that was particularly bitter for many traders, because the BTC price plummeted to just under $ 31,000.One reason for this massive move, which came in a very short time, was cascading sales. Some of these are triggered automatically if they have been placed as a stop order, for example. In addition, a large number of inexperienced traders simply panic. In the end, it\u2019s almost the same mechanism as a price rise, because of events rollover.But in addition to the mechanisms on the stock exchanges, some of which could not be reached because of the load, there are also a number of fundamental reasons.One aspect is likely to be the negative headlines that have been circulating in the past few days. In the US, the OCC wants to rethink the regulatory provisions that have recently come into force.Reuters previously reported that banks and payment service providers in China are once again experiencing restrictions in doing business with companies from the crypto industry. So there was bad news from two major markets that are known to be crucial.Together with the Twitter drama about Elon Musk\u2019s criticism of Bitcoin and the ensuing environmental debate, the public perception of Bitcoin has certainly not improved.All other cryptocurrencies have also experienced a massive slump. There was almost no token or coin that did not collapse by 40 percent, at least for a short time. That also called a lot of bargain hunters on the scene, which is why the prices have stabilized somewhat.Ultimately, however, the market remains very dangerous under these conditions because it cannot be ruled out that further sales will occur. Michal Saylor, on the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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