Bank

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-seeks-deeper-lows-below-58000/" data-wpel-link="internal">Bitcoin Seeks Deeper Lows Below $58,000</a><br></p>
<p style="text-align: justify">The exhausting process continues, and <a href="https://en.coin-turk.com/competition-heats-up-in-spot-bitcoin-etf-as-management-fees-drop/" data-wpel-link="internal">BTC</a> is falling again in search of deeper lows below $58,000. The price, which fell to $57,814, is doing what we have seen after every upward attempt. The process has become much more disturbing due to investors who have become accustomed to it.</p> 
<h2 style="text-align: justify" id="why-is-bitcoin-falling">Why Is Bitcoin Falling?</h2> 
<p style="text-align: justify">There are at least three reasons for this. The first is the dominance of short-term investors in the order books. Investors making quick sales on small gains have lost faith in the rise, at least temporarily. Investor sentiment is at its lowest levels in recent times. The second important reason is the negative historical return of September. In other words, investors, looking at past years, expected new lows even before entering September.</p> 
<p style="text-align: justify">Today’s statements from the Bank of Japan point to more <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> hikes. If Japan says it will continue after the interest rate hike it made after 20 years, it means risk assets are in for bad days.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-385344 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/09/BTCUSDT_2024-09-03_17-19-47.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">With closures below $57,130, the BTC price could make new lows between $54,084 and $50,537.</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-seeks-deeper-lows-below-58000/" data-wpel-link="internal">Bitcoin Seeks Deeper Lows Below $58,000</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-seeks-deeper-lows-below-58000/" data-wpel-link="internal">Bitcoin Seeks Deeper Lows Below $58,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Seeks Deeper Lows Below $58,000

Table of Contents

COINTURK NEWS

Other articles published on Sep 3, 2024

Maduro Vows to Revive Venezuela’s Crypto Path After Allegations of Corruption

BlockDAG Expected to Reach Stellar Heights with Inter Milan Partnership; Why Are Pepe Coin & SunP...

How to Create a Trading Bot Using ChatGPT

Ripple to add smart contracts to XRP Ledger

Volkswagen introduces ChatGPT to vehicle voice assistants

Bitcoin Slides 6% Below $60,000: Key Factors Behind the Recent Drop

Join our free newsletter for daily crypto updates!