The post Why Bitcoin Price Is Down Today? What’s Causing the Recent Drop? appeared first on Coinpedia Fintech News
After reaching a multi-week high of around $66.5k last Friday, Bitcoin’s (BTC) price has suffered low bullish momentum. The flagship coin has dropped over 3 percent in the last three days to trade around $64.5k on Monday during the mid-London session.
As of September’s last day, Bitcoin’s price has significantly recovered in the past four weeks following the ongoing global economic shift. Furthermore, Bitcoin’s price has rebounded over 25 percent in the last four weeks after reaching a correction low of about $52.6k earlier this month.
Factors Influencing Bearish Sentiment for Bitcoin Price
Crowd Sentiment
If you’re awaiting Bitcoin’s new all-time high, it may need to wait until the crowd slows down their own expectations. There are currently 1.8 bullish posts toward BTC for every 1 bearish post. Markets historically always move the opposite
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