Cryptocurrencies are shaking because the focus is shifted to the Bitbot token entitlement

• The prices of the cryptocurrencies have broken down in recent weeks.

• The crash occurred as the Bitcoin offer increased and the hope of reducing interest from the Fed.

• Bitbot will start his token claim event on Thursday.

The prices for Bitcoin and other cryptocurrencies remained under pressure on Wednesday because investors were waiting for the next important catalyst. After an increase to Bitcoin , $ 60,000 fell, which triggered a trend reversal in most old coins. The largest afterlookers included Blur, Mother Iggy, Turbo and Apu Apustaja.

why cryptocurrencies crash

There are three main reasons for the decline in cryptocurrencies. First, the decline is mainly due to the fact that there has been no great catalyst in recent months that drove the coins up. The most important events have already taken place this year.

The Securities and Exchange Commission (SEC) has already approved spot bitcoin ETFs, while the halving event has already taken place. There are signs that the authority will soon approve spot ethereum ETFs.

Secondly, they crashed at Bitcoin due to the continued sales pressure. The German government has repelled considerable amounts of Bitcoin in the past few days. Many stock exchanges and Mt. Gox have also started selling coins. Movements on the Bitcoin market tend to have an impact on other old coins.

Finally, there are signs that the Fed will be one of the last central banks that reduce interest rates because inflation in the United States has remained relatively stable in the past few months. The consumer price index (CPI) is still over 3% and has trouble reaching the goal of 2%.

There are other reasons for the crash of these coins. Technically speaking, Bitcoin has formed a death cross, which is a popular Bärisches Sign, while the volume of the Tether transactions has decreased.

attention is based on Bitbot

In the middle of this dark mood, investors Bitbot, one of the most popular ticket coins in the industry. The developers collected over $ 4.3 million in their token sales, while the hope of recreation continued.

Bitbot will be in the spotlight on Thursday when the developers open the network to stress. Those who have participated in the token sale must first have their wallets from Bitbot-Website . You have to use the same wallet with which you bought the bitbot tokens.

Analysts believe that Bitbot has a great future due to the promise of the network. First of all, Bitbot wants to become the largest telegram trade bot in the industry. Users can receive high -quality trading signals and warnings without custody. Further information on Bitbot can be found here .