What are the reasons for the drop in the price of Bitcoin?
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Bitcoin's price is affected by many things, such as how investors act, changes in rules and regulations, the economy, and the mood of the market as a whole.
Short-term price changes are unavoidable, but long-term buyers tend to focus on bigger trends like adoption and progress in technology.
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So, if we think about Bitcoin, its long-term value really relies on how many people use it and how good the technology behind it is. But what happens when regulators impose strict rules, or if the market feels negative? Can those factors actually hold back Bitcoin's growth?