Ethereum

Bitcoin

Silk Road

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-experiences-significant-price-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Experiences Significant Price Fluctuations</a><br></p>
<p style="text-align: justify">Bitcoin experienced incredible price fluctuations in the last week. At the beginning of the week, Bitcoin surpassed the $70,000 level but then reached a completely different dimension after the events that caused a decline.</p>
<h2 style="text-align: justify" id="why-is-bitcoin-dropping">Why Is Bitcoin Dropping?</h2>
<p style="text-align: justify">Bitcoin had surpassed $70,000 at the beginning of the week, but it couldn’t maintain this level. It is believed that <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">news</a> from the US had a significant impact on this decline.</p>
<p style="text-align: justify">First, news related to the sale of Bitcoins tied to the Silk Road events triggered the market decline. Following this, the uncertainty about when the Fed would lower <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">interest rates</a> also fueled the drop.</p>
<p style="text-align: justify">Lastly, geopolitical events in the Middle East are thought to have a significant impact on this situation. The uncertainty created by the Iran-Israel tension deepened the decline in both the global economy and Bitcoin.</p>
<p style="text-align: justify">Following all these events, Bitcoin’s decline deepened and had a significant impact on altcoins as well.</p>
<h2 style="text-align: justify" id="what-is-bitcoin-s-current-price">What Is Bitcoin’s Current Price?</h2>
<p style="text-align: justify">This morning, Bitcoin was seen to have dropped to $60,500. After this, the price rose again to $62,000.</p>
<p style="text-align: justify">In recent hours, Bitcoin first fell below $61,000 and then below $60,000, reaching $59,920. Currently, the price is trading at $60,000, which means a 4% drop in the last 24 hours.</p>
<p style="text-align: justify">On the other hand, the price of <a href="https://en.coin-turk.com/sec-approves-ethereum-etf-funds-in-a-significant-move/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum</a> also fell below the $2,900 level. This level had not been seen for approximately 25 days. The low inflows and increasing outflows in Ethereum ETFs also raise questions.</p>
<p style="text-align: justify">It remains a curiosity what will happen in the coming days, especially with Bitcoin and other cryptocurrencies. The impact of rising recession concerns in the US on the economy and how this will reflect on Bitcoin remains uncertain.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-experiences-significant-price-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Experiences Significant Price Fluctuations</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-experiences-significant-price-fluctuations/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Experiences Significant Price Fluctuations</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin Experiences Significant Price Fluctuations

Table of Contents

COINTURK NEWS

Other articles published on Aug 3, 2024

Pepe or Raboo: A quest for the memecoin which could displace Polkadot in 2024

Analyst Predicts Bitcoin’s Potential Price Surge

Mainsail's Performance Improvements

Ape Finance Catapults BAYC to the Top of the Daily NFT Market

AI: Nvidia Under Federal Investigation! Chip Empire Threatened?

Toncoin (TON) Turns Green As Trust Wallet Partnership Confirmed. Will VET And Carboneers Collab B...

Join our free newsletter for daily crypto updates!