Bearish Trend Continues: Bitcoin's price has been on a downward trajectory since June 2024, and the bearish trend shows no signs of stopping. This is evident from the consistent lower highs and lower lows seen in the daily, weekly, and monthly charts. As of July 12, 2024, Bitcoin's price has dropped by nearly 20% from its all-time high of $72,000 in April 2024. Impact of Regulatory Concerns: One of the major factors contributing to the current bearish trend is the increasing regulatory scrutiny on cryptocurrencies. Governments and financial institutions around the world have expressed concerns over the potential risks associated with cryptocurrencies, leading to stricter regulations and crackdowns on crypto exchanges and trading platforms. This has created a sense of uncertainty and fear among investors, causing a sell-off and further driving down Bitcoin's price. Market Sentiment and Crypto Twitter: The bearish trend in Bitcoin's price has also sparked a lot of ...
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