Bitcoin Makes A Free Fall to USD 19,000

Bitcoin has created worldwide tension in the global crypto market with its drastic fall in the BTC price since June 2022. 

From hitting the all-time high of US$68k in November 2021, the most popular cryptocurrency hit US$19k in July 2022. 

Crypto investors are speculating multiple reasons such as inflation for the sudden drop of Bitcoin to drive loss in crypto wallets. 

But the highly volatile crypto market is divided into two categories for Bitcoin — short-term investors who are ready to utilize the BTC price to buy the dips and long-term investors

One of the key reasons for the major and dramatic BTC price fall in the crypto market is inflation.

The central banks have renewed their inflation warnings at the Annual Forum of the European Central Bank. 

The official announcement has made Bitcoin drop its price to 5.5% with a record of a 40% monthly decline.

Bitcoin has breached a key threshold of briefly hitting US$19,000 before reaching US$19,457.64 and is still down more than 70% from November 2021. 

The fall in BTC price has caused a liquidity issue in the community of blockchain tech companies across the world. 

Some crypto professionals are expecting Bitcoin to hit US$10k in the nearby future to start soaring high efficiently and effectively.