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The Data Revealed The Reasons Of The Downfall Of Bitcoin

The Data Revealed The Reasons Of The Downfall Of Bitcoin. As We know Bitcoin has dropped tremendously from its peak in December. At the end of 2017 Bitcoin touched and entered to the 20,000 dollars mania but later it dropped to the rate of 6000 dollars. It was a quite marvelous moment of Bitcoin when it reached 20,000 dollars in at the end of 2017. The question is what caused the Bitcoin price to get a huge downfall after reaching the peak. To solve the question and problem of all the traders who had invested in Bitcoin the Chainalysis has found the solution from the data to determine what was happened to the price of Bitcoin.

Bitcoin price got down

The Data Revealed The Reasons Of The Downfall Of Bitcoin

Chainalysis is one of the best research team of cryptocurrencies which had worked on many crypto currency projects. Chainalysis team was researching about Bitcoin from the past three months before the big dip of Bitcoin. The research team analysis was really perfect and different from others. Most of the traders and research teams works on the cryptocurrencies to find the reasons behind the drop of its price but in this team they had provided the evidence of the dip of Bitcoin without even taking a hurried look of the graph.

Also Read: The New York City Has Banned The Bitcoin Mining

The final result given by Chainalysis was nothing but simple a theory. The theory is a flock theory. As per their theory we are a bunch of animals which are driven by our own self-emotions. Well according to their theory there is nothing more about it. Basically all the traders are started selling there coins when the price has reached 20000 dollars. According to Chainalysis the price was got down because of the huge sell margin of investors.

The reasons behind the downfall of Bitcoin

This make sees like a simple thing but its most complicated if you turn it over in to big graph. The long dip of Bitcoin is caused the huge sell margin of investors according to the analysis of Chainalysis research team.

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