Why is Bitcoin falling?

The bitcoin rate continues to decline on Wednesday after a significant drop following the results of the previous session. During the day, the most popular cryptocurrency fell to $ 44,561, later recovering to $ 46,438.

Last night, September 7, the value of bitcoin collapsed by 16% at once. Due to the sharp decline in quotations, traders in total lost about $ 3.5 billion. Experts name several reasons why bitcoin could sink sharply.

Firstly, the euphoria caused by the fact that El Salvador declared bitcoin an official means of payment could push traders to take profits. Moreover, another reason for the collapse of bitcoin could be the sale of large volumes of cryptocurrency. Experts believe that large miners are involved in this, which could not but put pressure on the course.

An additional possible factor of pressure on the crypto market was the fact that the US Securities and Exchange Commission (SEC) launched an investigation against one of the largest decentralized crypto exchanges, Uniswap. As a result, investors could be afraid of a repetition of the situation, when in the summer the regulators of a number of countries began to restrict or even suspend the work of the Binance crypto exchange.