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What is causing the dip in cryptocurrency?
Futures liquidations send the crypto market lower The decline across major cryptocurrencies has led to a rush of liquidations across the derivative market. Bullish traders were caught off guard, leading to a quick spat of long liquidations.
Why there is sudden fall in cryptocurrency?
This is the nature of the crypto market which is highly volatile and unpredictable. The cryptocurrencies were showing a sign of stability last month but due to the U.S. inflation and its impact on liquidity.
What is causing the drop in crypto?
At the moment, high inflation and a cost of living crisis are causing people to reduce their investment risk. This has led to people selling their cryptocurrency.
Who controls the value of cryptocurrency?
Bitcoin is neither issued nor regulated by a central government and, therefore, is not subject to governmental monetary policies. Bitcoin's price is primarily affected by its supply, the market's demand, availability, competing cryptocurrencies, and investor sentiment.
Will crypto rise again in 2023?
Our real-time BTC to USD price update shows the current Bitcoin price as $43,564.1 USD. Our most recent Bitcoin price forecast indicates that its value will increase by 2.05% and reach $44,799 by December 24, 2023.