For the last several days, the most prominent cryptocurrency in the world in terms of market capitalization continues to experience problems. Yesterday on August 21, the price of Bitcoin fell to less than $10,000.
This happened after it lost support at $10,250 against the U.S. dollar. However, the troubles of Bitcoin did not end there, and price continued to decrease below $10,000. Moreover, in several hours the price reduced to $9,757. At the moment the price of Bitcoin increased and reached $9,965.
There are several factors which affected the price of the cryptocurrencies. One of the main reasons is that investors are cautious regarding the ongoing situation. Let’s have a look at the latest results from alternative.me’s Fear & Greed Index. Nevertheless, this index it’s pointing out to extreme fear. It means that this is bad news for Bitcoin and digital currencies in general.