Why is Bitcoin worth down at the moment?

The bullish momentum that propelled to a 56.4% year-to-date achieve has all however vanished, because the Bitcoin worth misplaced 13% to shut out the month of August. Bitcoin’s worth seemingly had bullish momentum after the Grayscale court docket victory in opposition to america Securities and Change Fee (SEC), however these features have evaporated.

The contraction in Bitcoin’s (BTC) worth has some analysts evaluating the present BTC market to the pre-bull market cycle of 2015-2017.

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