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Bitcoin: Why do investors continue to bet on this currency despite its recent fall?

Bitcoin: Why do investors continue to bet on this currency despite its recent fall?

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On the weekend of June 18, Bitcoin, the most famous cryptocurrency, recorded a phenomenal drop in value, even breaking its 2017 record. Enough to largely torment cryptocurrency investors.

 

The symbolic floor of $20,000 was crossed late last week. It had been a year and a half, since Bitcoin gained fame, that this had not happened.

 

Indeed, the cryptocurrency’s price dropped to a value of $17,599 on Saturday, June 18, beating its December 18, 2017 record of $19,511 by a landslide.

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In just six months – since January 2022, the value of Bitcoin has plummeted from over 40,000 euros to less than 20,000 euros. In total, Bitcoin has lost 53% of its value in a very short time: unheard of.

 

However, this decline does not seem to be a coincidence according to investors. The behavior of the holders of this currency would have largely played on the fall in value of Bitcoin since the beginning of the year.

 

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