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Sunday, May 22, 2022

Bitcoin Pegged Back By Loses

Bitcoin is one of the biggest cryptocurrencies at the moment. The crypto has grown rapidly to dethrone all of its competitors. They have seen the ups and downs of the market all these years. However, the organization seemed to have been hit by one of the worst losses. BTC is looking at the expiration of options anointing to $1.1b. This was a result of the correction of 11.5% the previous week. The organization is likely to incur a loss of three hundred million dollars.

BTC has had a rough December. Their prices have taken a hit throughout the month. The business has been very much turbulent. The corrections made on the 4th of December made the company’s price fall drastically. The coin saw its rate go crashing down to $42000. This was a huge slip as the normal rate of the coin was $57000. This move has a 26.5% downside. It resulted in the liquidation of contracts worth $850m. 

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Bitcoin also saw a new low in the “Fear & Greed Index”. The index recorded a figure that was the lowest after the month of July. Let us learn more about cryptocurrency in detail below. 

Bitcoin Looks For A Turnaround 

Despite experiencing a rough month, Bitcoin is determined to bounce back. Certain data have indeed shown a lot of positives for the company. The price slump on 4th December might look like a loss. However, compared to previous rates, it is still a gain of 44%. 

However, issues are needed to be addressed by Bitcoins. Their reserves have experienced a continuous depletion. As per sources, there are below 2.27m BTC deposits at the moment.  This is certainly an area to look for. Despite the numbers, Bitcoin is very much confident of overcoming the dark times. 

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