Bitcoin (BTC) slid again, gradually declining over the past 24 hours toward $7,500. Even during the recent bull run which saw BTC near $8,500 again, the price seemed shaky, and predictions saw the asset return once again to the $7,200 level. BTC fell to $7587.86 at noon time UTC on Tuesday.
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Some bearish attitudes reemerged, but here are five reasons for the most recent price slide:
HitBTC announcing “hardware problems”: The recent lockdown on the HitBTC exchange caused immediate jitters, though the BTC market did not react immediately. BTC is already too liquid to react to separate news, but the event must have taken its toll on general moods in the crypto world. HitBTC announced it had resolved the issue, and later warned of another planned maintenance shutdown, but the BTC slide expanded on Tuesday morning.
Bitcoin ETF license: The Winklevoss Bitcoin ETF was denied license by the US Securities and Exchange Commission (SEC). This move, while somewhat predictable, led to re-evaluation of the probability that the CBOE ETF, scheduled for a decision on August 10, would pass muster.
This article appeared first on Cryptovest
