Bitcoin Price Drops in Early 2022, This is the Cause
Friday, January 21, 2022
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STORY MODEL - Bitcoin Price Drops in Early 2022, This is the Cause The first week of January 2022 did not get off to a great start for Bitcoin. The reason is, the price of the cryptocurrency (cryptocurrency) has fallen to its lowest number in the last one month. Based on CoinDesk data, the price of Bitcoin as of Thursday (6/1/2022) at around 06.00 WIB was observed to be at 43,400 US dollars (around Rp. 625 million) per chip, the lowest in the past month, or since early December 2021. Previously, the price Bitcoin also briefly reached a low point during that period, precisely on December 18, 2021. At that time, the price of Bitcoin was observed to be at 45,600 US dollars (around Rp. 656 million) per chip. Also read: Bitcoin's 13th Anniversary, Here are 8 Achievements to date Compiled by KompasTekno from CoinDesk, Thursday (6/1/2022), this decline was triggered by the move by the US central bank, the Federal Reserve Bank, which plans to shrink their balance sheet. The US central bank's balance sheet swelled to 8.3 trillion US dollars, or around Rp. 119,515 trillion. The shrinking process itself is usually a step in selling assets owned for payment of existing debts. In addition, investors are also worried that the Federal Reserve Bank's printing of more than 4 trillion US dollars (around Rp. 57,592 trillion) will trigger an increase in inflation. So, this bad sentiment is said to have an effect on the price of Bitcoin. It is not yet known whether the price of Bitcoin will rise again or not. However, considering that the price of this cryptocurrency is quite vulnerable, the possibility of its price going up or down could be at 50:50. Also read: Bitcoin Inventor Satoshi Nakamoto's Identity Will Be Revealed by Court? Previously, the highest increase in the price of Bitcoin over the past month itself occurred on December 28, 2021. At that time, the price of Bitcoin was at 51,800 US dollars (around Rp. 745 million) per chip, as summarized by KompasTekno from CoinDesk, Thursday (6/1/2022). ). That is, the decline in Bitcoin prices over the past week or so has reached 6,000 US dollars (approximately Rp. 86 million).