Fred Thiel: “I know the reasons for the fall of Bitcoin”

The most important three: the sale of significant BTC reserves by miners, the transfer of cryptocurrency by the German authorities to the Bitstamp and Kraken trading exchanges. upcoming payments in July 2024 to affected clients of the bankrupt crypto exchange MtGox. In addition, demand for risky assets, including bitcoins, has decreased, and investors prefer to invest in memcoins, which have demonstrated high returns over the past few months.

The head of the mining company believes that the upcoming US presidential elections in November could have a significant impact on the cryptocurrency market as a whole, and support for the formation of progressive legislation to regulate the mining of digital assets should grow in Congress. Previously, co-founder of the Material Indicators trading platform Keith Alan predicted strong fluctuations in the price of Bitcoin in the next few days.