After a meteoric rise in value in the past 30 days, the bitcoin price has endured a major correction as it dropped from $7,500 to $6,550. Before delving into the analysis of the downward trend and the recent decline in the price of bitcoin, it is important to acknowledge that the price of bitcoin has increased from around $4,500 to $7,500 within a single month.
Even with the recent major correction, the bitcoin price has recorded a 29.2 percent monthly increase and investors are overly concerned with the short-term price trend of bitcoin. Many analysts have predicted the price of bitcoin to plunge either after the cancellation or execution of SegWit2x, as B2X dividend expecting investors reallocate their funds from bitcoin to other cryptocurrencies.
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