Why is the price of bitcoin dropping?

Rumors of a forthcoming U.S. government strategy to regulate digital assets may have triggered the current sell-off. Gradual belt-tightening by the U.S. Federal Reserve may also be contributing to Bitcoin's price drop. The price of Bitcoin is likely to be increasingly correlated with the prices of other assets.

Is bitcoin still upbeat despite the recent bitcoin price fall?

However, many in the bitcoin and cryptocurrency community remain upbeat despite the recent bitcoin price fall.

What's going on with Bitcoin?

Bitcoin, along with the wider cryptocurrency market and global stock markets, has been boosted this year by massive stimulus measures and unprecedented money printing that's carried out by the world's central banks, led by the U.S. Federal Reserve, in order to offset the economic damage wrought by the coronavirus pandemic.

How much is bitcoin worth?

As for the most recent halving, last May, Bitcoin was sitting at $8,787 – and in the months since, its price has exploded. Over the last few weeks alone the cryptocurrency has blown past all-time highs again and again, and currently sits at around $48,000. Its record high was set on Feb. 21, when it surpassed the $58,000 level.