Bitcoin is falling again and there are more worries!

The digital currency is falling again after the weekend, but there are more concerns about Bitcoin that could negatively affect the price.

It seems to be a recurring phenomenon. Bitcoin rises over the weekend, only to lose profits again on Monday. Analysts see this too. IncomeSharks even calls it Monday dumps, Tuesday pump. So he says that Monday the profit will be gone, to allow the price to rise again on Tuesday. Bitcoin remains below USD 30,000 as a result, but there are even more problems.

Bitcoin is falling

At the time of writing, the currency is down a good 5%. Other analysts warned before the decline began that the increase is not a price hike that will last. This is partly due to the low liquidity and lack of buyers. It indicates that investors are still very cautious.

We also have to take into account that Bitcoin can still look up the recent ‘lows’ of about 27,000 dollars. It is even possible that it could fall to the 200-week moving average of around $22,300. In addition, another bad scenario emerges.

miners

Bitcoins need to be ‘mined’. One of the things miners do is ‘create’ new Bitcoins. This requires a lot of computer power and power, which costs money. At the moment there is again fear of a so-called miner capitulation. It’s a risk that’s always there, but we haven’t heard about it in a while. So now it’s back.

It means that the low price of Bitcoin makes it less and less attractive to mine. You can also see this in sales, because miners then dump their coins. If Bitcoin falls any more, the chances of miners capitulation will increase further and strengthen the road to the bottom.