BTC has been one of the biggest driving forces of the crypto market. They emerged as the powerhouse in the cryptocurrency market in the last few years. The company progressed rapidly over the years and gained a huge amount of profit as well. Bitcoin has been the reason most investors have gotten attracted to the crypto market. However, the last few months have been a disaster. The cryptocurrency market is currently going through one of the darkest phases of its time. Almost every company has incurred huge losses.
Companies like Coinbase are on the verge of getting dissolved. Big names such as Ethereum and Bitcoin also could not escape the wrath. Both the companies saw the prices of their shares go down and reach record lows. BTC has been particularly falling behind in the last couple of months. The way their prices have dipped has made everyone involved with the company genuinely concerned.
Analysts and experts have taken their precious time out to dig into the reasons why the crypto giant is facing such a lean phase. Arcane Research appointed a number of experts to research on the ongoing downfall of Bitcoin. After extensively brainstorming through the trends, they found that most of the companies have been selling off Bitcoin shares lately. Let us learn more about the story in detail below.
BTC Losing Trust?
BTC has been one of the most trusted and secure modes of investment in the crypto market. Sadly enough, it seems as if the majority of the investors are losing their faith in the company. According to recently published data, several companies have been disposing of the shares they had in Bitcoin.
As per the latest news, as many as 236,237 Bitcoins have been sold since the month of May. These coins amounted to a whopping $5.452 billion.