Reasons For Price Drop of Bitcoin in June 2018
There are 4 major reasons for the price drop of Bitcoin and Alt coins in June 2018.
1. Indian native exchanges such as Zebpay stopped the service of Money deposits and withdrawals. They announced according to the terms of RBI, Indian banks will no more support the crypto currency exchanges. This lead to huge sell margin throughout Indian exchanges. Anyhow there are other ways of deposits and withdrawals but this news lead to panic sell amount Bitcoin holders.
2. One of the major Korean exchange experienced a trouble from hackers. Even though it haven’t effects the price much but got a negative view among the Bitcoin holders of Korea.
3. US Government started investigating about the exchanges which manipulate the price of crypto currencies. If the price manipulation occurs among the exchanges, it will lower the prices more and more.
4. Whenever people see sudden drop in the price of a crypto, they panic and sell the currencies. Due to all these negative news, huge panic sell orders entered the market.
Any how in my view, the smart will buy at low price. 6000$ is a good mark to buy. There are also few alt coins which dropped upto 70%, Buying at present position can bring good profits in medium term period.
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Bitcoin : 33AJ51e3zteT9VBp78iN9XuWQ3S6F8h7qn