Bitcoin Drops To The Lowest Price In Over A Year

Dawid Paluch
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Bitcoin has fallen down to the lowest in over 12 months. In less than 12 hours the price of the most popular cryptocurrency dropped from $6,326 to $5,556. Nobody knows, why the drop occurred. There are some leads, though.

Bitcoin price had been stable until 10.30 AM (UTC + 1:00:00), Nov. 14th. Then, the value of the most expensive cryptocurrency in the world started to decrease. At 9:49 PM, it reached its low at $5,544.

bitcoin_charts

Binance’s trouble

Binance, a crypto exchange, have had technical difficulties. According to the reports, it could trigger a massive movement on the market.

On one of the biggest exchanges in the world has had problems with login and transaction orders.

According to Whale Alert, there have been big withdrawals from the exchange:

Such large withdrawals could cause that bump on the market.

Bitcoin Cash Hard Fork

There is a BCH hard fork upon us. The fork will start today. This topic is gaining attention all over the crypto world. Investors don’t know what will come out of this blockchain split.

The market is fluctuating, so prices can go up and down. Crypto owners are selling their assets, which causes a BTC drop.

So, it can be one of them, it can be two of them, or it can be none of them. We can’t say with 100% certainty that one of the reasons above is responsible for that BTC collapse. Nevertheless, we don’t believe that everything that happened in the last few days is just a coincidence. We will update this story if something new comes out.

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