Bitcoin price drop caused by profit-taking and macroeconomic conditions
Bitcoin dropped to $89,900 on January 13, its lowest decline in two months James Toledano, COO at Unity Wallet, said one of the reasons for the drop is profit-taking after Bitcoin hit $108,000 in mid-December The inauguration of President-elect Donald Trump could spark renewed buying interest, Toledano said Bitcoin fell below $90,000 for the first time in two months, dropping 3.6% in 24 hours as the market experienced selling pressure. Data from CoinMarketCap shows that Bitcoin’s price dropped to around $89,900 on January 13. However, at the time of publication, it’s trading over $95,000. Bitcoin drops below $89,000. Source: CoinMarketCap According to James Toledano, COO at Unity Wallet, there are several reasons why Bitcoin’s price fell. “The first is profit-taking, after hitting a peak of around $108,300 in mid-December, the market has seen a massive amount of it, particularly following the election of pro-crypto President-elect D...