20.07.2021 Bitcoin rate dropped below $30 thousand on the cryptocurrency exchange Binance. The steady decline in the rate in recent months is due to the ban on mining in China and the drop in the complexity of the network to 13.67 trillion hash on 19.07.2021. The latter is the result of the shutdown of a significant share of computing power.
Experts emphasize that the price of Bitcoin depends on the information space. The lack of positive news around the main cryptocurrency in recent years does not allow the rate to return to the mark of $50-60 thousand. The recovery of bitcoin prices, according to experts, will not happen before the fall. In the coming weeks, quotes are likely to move to $25,000.
Even the appearance of a major investor at the weekend did not help to restore the rate. On July 17-18, bitcoins worth $1 billion were bought. Experts have not determined at this time whether the purchase was made by one or more investors. At the same time, the cryptocurrency was distributed to several addresses, which allows the holder to minimize risks. Experts assure that a large investor is likely to use digital coins in the OTC market, so the growth of the rate after such news is unlikely.