Recently, Bitcoin's price dropped below the threshold of 117,000 USD, trading around 116,977.70 USD each.
This is a decrease of 0.87% in one day, reflecting short-term volatility in the cryptocurrency market, based on market data from a major exchange in July 2024.
MAIN CONTENT
Bitcoin has dropped below 117,000 USD, trading around 116,977.70 USD.
The daily decrease rate is at 0.87%, indicating short-term volatility.
Data updated from one of the reputable cryptocurrency exchanges in July 2024.
How has Bitcoin fluctuated in recent trading sessions?
According to updated data from a major global exchange, the price of Bitcoin has dropped below the threshold of 117,000 USD, recording a price of 116,977.70 USD.
In conversion, this decrease is equivalent to 0.87% in one day, reflecting short-term adjustments in the context of a cryptocurrency market that frequently fluctuates due to various influencing factors such as news, capital flow, and global developments.
The Market Analysis Director of a reputable financial organization commented:
The price of Bitcoin reflects the necessary adjustment rhythm after previous hot growth periods, helping to balance supply and demand more effectively in the market.
Mr. Nguyen Van An, Market Analysis Director, Q2/2024
What factors are driving the current price adjustment of Bitcoin?
This price drop stems from various reasons such as macroeconomic fluctuations, monetary policy, and investor sentiment in the highly volatile cryptocurrency market.
Specifically, financial reports and changes in global economic indicators have caused capital flows to temporarily shift away from risky assets like Bitcoin. Additionally, selling pressure from whales and on-chain developments also impact Bitcoin's price in real-time.
According to market expert Nguyen Trong Minh, the slight decrease in Bitcoin's price will help the market cleanse investment positions for more sustainable development.
How might the current volatility affect Bitcoin's long-term trend?
Despite the short-term adjustments, experts still evaluate that Bitcoin maintains a solid position in the long-term price chart thanks to strong interest from large organizations and individuals.
Data from the Q1/2024 cryptocurrency report shows that investment in Bitcoin is still growing, demonstrating the stable appeal of this currency in the current digital financial market.
Price volatility is an opportunity for investors to have a risk management strategy and increase long-term profits.
Tran Thi Huong, Cryptocurrency Analysis Expert, 2024
Frequently Asked Questions
Does the decrease in Bitcoin's price mean the market is bad?
Not entirely, price volatility is normal in the cryptocurrency market and can create buying opportunities for long-term investors.
What factor has the most influence on Bitcoin's price today?
Mainly global monetary policy, investment sentiment, and trading activities from Bitcoin whales.
Can Bitcoin's price recover quickly after the adjustment?
It is possible, but more monitoring of indicators and market news is needed to assess sustainable trends.
What data sources should be used to accurately track Bitcoin's price?
It is advisable to choose reputable exchanges and frequently surveyed market analysis platforms with high transparency.
How does Bitcoin's price adjustment affect retail investors?
Volatility can create buying opportunities or risks if there is no proper risk management strategy.
Source: https://tintucbitcoin.com/bitcoin-mat-087-duoi-117-000-usd/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
