An expert explains the reason for the decline of the Bitcoin currency

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An expert revealed the reason behind the recent decline of “Bitcoin,” the most famous currency in the world, which had witnessed a remarkable rise in the past months.

Gleb Kostarev, Director of Binance, the largest exchange in terms of trading volume in cryptocurrencies in Russia, said that the decline in the “Bitcoin” currency was due to its desire for large investors to sell to reap profits.

On Friday, the “Bitcoin” currency fell below the level of 30 thousand dollars, for the first time since January 5.

Today, Bitcoin is heading to record its worst weekly decline since September 2020, as concerns about regulation and its excessive rise have led to its retreat from recent record highs.

Source: Novosti

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