Crypto Daily – The latest dip in the (BTC) price is currently going strong. A plunge of $7,500 just since Tuesday has sent the market into a spin. Is this just a normal case of high volatility, or is the Bitcoin price in for a much more extensive retracement?
Volatility plays havoc with traders
The life of the average Bitcoin investor is fraught with uncertainty. An emotional roller-coaster is probably playing havoc in the minds of many, as Bitcoin bulls generally take the stairs, while the Bitcoin bears are just jumping out of the window.
Many factors are attributed to this current drop in the Bitcoin price, such as the continued rise in treasury yields, inflation concerns, and an overall downturn in investor sentiment.
However, can it just be the very simple fact that Bitcoin reached oversold levels, and its correction has been speeded up by volatility caused by long liquidations and probably a decent dose of market manipulation?
