In the first half of the year, Bitcoin (BTC) went on a remarkable rally that raised hopes of a similar rally like the one in 2017 that took the token’s price to $20,000. However, things have not gone as many had hoped, and since the month of July, the world’s biggest cryptocurrency has lost its momentum.
This week has been a particularly shattering one for BTC as it plunged to new depths and the most worrying bit about the nosedive is the fact that most traders are not sure about the reason behind it.
Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.