The market recently fell violently, before recovering partially today, and the Bitcoin climbed to a level above 50 thousand dollars, but despite that, the market is still suffering from the turmoil of the previous decline.
This drop led to the panic of many users, especially the new ones, but on the other hand, there were a large number of optimists who confirmed that this drop is just an opportunity to buy only, as I mentioned to you in my previous post.
But if we look from a logical side to the reasons for the decline, rather than just saying a correction, we will find that there are actually several factors that contributed to the decline of Bitcoin in the recent period, namely:
whales
From my point of view, the last reason for any big movement in the market in a short period, and I mean a few hours, is because of the whales and the sale of Bitcoin in large quantities, which causes a sharp decline in the market and losses of billions of dollars, but what might push the whales to sell these are the other reasons that fall under this Reason .
Falling in global markets
At the end of November, there was a major decline in global markets that led to instability in trading operations in global stock exchanges, due to several reasons, including the large rise that occurred throughout the month of November, which ultimately leads to an inevitable decline in the market.
The second reason, which is a cumulative reason, is the rise in global inflation rates and the anticipation that everyone is waiting for to change global monetary policies and the tendency of some to gold and real estate to preserve their money from inflation.
Corona Mutation
The reason that some attribute to the decline of Bitcoin is the mutation of the Corona virus and the emergence of the new strain Omicron, which began to spread in South Africa, which caused concern among many about a new wave of closures and quarantines in the world.
The end of the year is approaching
In the end, it may be the reason for some entertainment, as many people need money in order to celebrate birthdays and the end of the year, so one of the sources of income for millions around the world is currently crypto, so some turned to converting their bitcoins to USDT for some money.
And you, what do you think ?
Thank You
