The Experts Revealed Their Opinions on the Reasons of Bitcoin’s Decline
On April 23th, Bitcoin’s price fell down below $50,000. It managed to climb back up a little to $50,200 level but remains unstable and at the moment of writing this material makes $50,043. Experts share their opinions about the reason for such a significant decrease and the perspectives for Bitcoin in the nearest future.
The analyst of CEX.IO Broker, Yuri Mazur, believes it was coming since April 20th when Bitcoin failed to close the day above 50 SMA. This shows the lack of demand from the investors and might mean the negative trend will continue. The scandalous exit scam Thodex may have also influenced Bitcoin’s price, as well as Biden’s new capital gains tax.
Denis Voskovitsov, the head of Exantech data center, also believes the investors are afraid of the new tax laws targeting cryptocurrency and rich people in particular. But the EXANTE strategist Yan Kivkulis is sure that Bitcoin’s correction is normal, and it should have happened as it always does.