Below are the most commonly cited reasons for the drop:
Attempts to decipher exactly what’s driving the price of Bitcoin are often tricky endeavors, with multiple offsetting catalysts in the mix.
That seems to be the case these days, as market observers try to unpack the reasons behind a slide that’s dragged the original cryptocurrency down by as much as 28% from its record of more than US$109,000 ($147,291.70) on Jan 20, the day that crypto supporter Donald Trump was inaugurated as president of the US.
