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Why is the price of bitcoin going down?

In the beginning, when the monthly report of US inflation came, the rate of inflation came to 8.3 percent.

Which was more than expected. However, in July, the same rate was 8.5 percent.

Bitcoin is now trading at $21400 with a loss of 4.1%, which is the highest price in the last 7 days.

Due to no increase in prices in July, when the Monthly Inflation Report came up by 1% more in August, its price went down further.

Hopefully the price of bitcoin will not fall any longer.

People also believed on bitcoin because of this reason that this rate would not be hit by inflation. And investors will continue to do something to keep the flow of bitcoin running regularly.

Many investors also invest their wealth in bitcoin to avoid tax. If this is the case then investing money in bitcoin will become very risky.

We also advise you to see and understand the market well before investing in bitcoin or any crypto currency.