Bitcoin fell below $ 8000 amid global recession

Since the evening of March 7, the price of bitcoin has been falling rapidly and since then the coin has lost more than 21% of its value. Analysts immediately name several reasons that could provoke a collapse.

In less than two days, the PTS lost almost $ 1,200 andat the time of publication it is trading at $ 7931, having fallen by 9.05% over the past 24 hours. Altcoins traditionally followed the leader, but most of them lost 10-14%.

Most analysts believe the collapse was caused by a slowdown in traditional markets. For example, during the same period, Brent oil fell in price by 20%, and profitabilityTreasury bonds of a number of countries have reached the lows of the past few years.

Some experts claim that the crypto marketAnother major Bitcoin sale, organized by the leaders of the PlusToken scam project, had an additional impact. Having analyzed the movement of funds from their wallets, analysts found that on March 5, 13,000 BTC worth about $210 million were transferred to mixing services, after which further movement of coins could not be tracked. According to them, since September 2019, PlusToken organizers have regularly dumped large volumes of bitcoins onto the market after large price surges.

Declining market may also contributemining profitability due to increased hashrate. Miners are in no hurry to update the equipment, fearing that after halving, the production of military-technical cooperation will become unprofitable, as is the case with lightcoin.

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