Bitcoin, the first cryptocurrency in the market, fell before reaching its halving event! Why did Bitcoin fall? Read on for some clear reasons for the fall of Bitcoin in May 2023.
Two main reasons why Bitcoin fell
As you follow the news of digital currencies on our website and chat group in Telegram, you must be aware of the sale of shares by Warren Buffett.
American investor Warren Buffett sold 13,300 billion dollars of his shares in Berkshire Hathaway a few days ago, and due to the correlation of the stock market and the digital currency market, Bitcoin fell before the halving event.
Of course, many activists and active critics in the field of crypto predicted the fall of Bitcoin.
Warren Buffett sold his shares and turned them into cash because the economic conditions prevailing in America show the collapse of the American economy.
If you follow the US crypto news, the US government is trying to pass clear rules for digital currencies, such as the Biden administration’s tax collection from digital currency miners.
Undoubtedly, this news model has a negative impact on the cryptocurrency market because the crypto community opposes these proposals and does not consider tax collection as an incentive to protect the environment.
In the latest news, the American government has published a list of illegal digital currencies in which Ripple’s name is included. All these news have a negative impact on the cryptocurrency market.
It seems that the American government will soon pass tough laws for the cryptocurrency industry. The news that has caused Bitcoin to fall these days is the effects of the laws of different governments around the world for digital currencies.
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