Bitcoin Faces Do Or Die Situation, Will Miners Save the Day for BTC?

[H2O]

Bitcoin price on Sunday fell by nearly 10% reaching sub $54K levels and later recovered up to $57K on Monday before facing another wave of corrections leading to $54K levels again. While many analysts have pointed towards the recent sharp drop in network hashrate due to a power outage in China being the reason for the price drop, others suggest the drop was nothing out of the blue as Bitcoin price has registered a sharp correction up to 25% after every new ATH.source

[TomPluz]

Just like any deeply volatile asset, Bitcoin has the tendency to pump and dump in a very dramatic way for no reason at all except that it just wants to have some correction in order. This has been expected by some and whether the power outage in China was the biggest factor for the drop it does not matter in the long run. This is a very normal dip and an opportunity for those who have the money to buy more because as what we know days from now BTC can be accelerating again. And then another chapter of BTC has unfolded before our very wide eyes. Nothing more, nothing less.

[Richard_1]

I think that the fall in bitcoin was caused by a completely banal reason, and this reason is explained by a simple correction. Since bitcoin has recently conquered new peaks, it is time to make a correction.

[Gravatai]

I think that the fall in bitcoin was caused by a completely banal reason, and this reason is explained by a simple correction. Since bitcoin has recently conquered new peaks, it is time to make a correction.

I think the reason for the fall in the price was the news from the US about the change in tax rates, but there may have been other reasons. In fact, this is not critical and cryptocurrencies continue to develop and prices will rise, this is obvious