The price of Bitcoin (BTC) allegedly recorded a sudden drop of 3% in a few hours today to $ 13,566 after recording an increase above $ 14,000. Coincidentally, the US dollar, gold and stocks were also reported to be falling.
According to analysts, the US presidential election was the driving force behind the fall.
While the media is hotly reporting the number of votes, the price of Bitcoin and shares is allegedly rising. However, after counting the final votes on the day, all risk-on and risk off assets are rumored to be in the red zone, including the S&P 500 futures.
Based on a statement issued, it was due to a statement by President Donald Trump.
The recent decline of Bitcoin should be noted as it is down simultaneously with the dollar. Typically, as the dollar falls, Bitcoin and gold tend to record gains.
In addition, Ki-Young Ju, CEO of CryptoQuant, has warned traders today about the uncertainty caused by liquidations. If there are a large number of contracts in the market, it can lead to large price movements.
