A new report recently said that bitcoin's current problems are much more serious than it initially seemed. After years and years of price increases and falls, many people will notice that the present volatility is no difference. However, experts believe that the situation may be more severe than ever.
According to the report, bitcoin is facing a large-scale crisis at the present. What’s more, the coin's year-to-date support is easing every drop and preventing the coin from irreversible damage. However, if the bitcoin currency is below this level, it may never be able to reach its full potential.
At the moment, there has been a lot of activity for bitcoin. Starting from the July rally, the bitcoin value has risen to $8,400 for the first time in a few weeks. However, although this seems to be the beginning of a serious bull market, the BTC fell below $7,000 in just a few days. The reason is believed to be a statement announced by the US Securities and Exchange Commission, and the US Securities and Exchange Commission said the decision of the BTC ETF will be postponed again. The confirmation of this decision occurred only a few days ago, and since then, the BTC has fallen even more. Now, it's lower than a few months, and the price per coin is $6,140.43.