Bitcoin continues to struggle to hold the $60,000 mark. BTC/USD fell 5.3% to $59,497.55.
Bitcoins falls for no clear reason even as investors point to profit taking after the price jumped.
The anticipated taxation of bitcoin holders was also blamed for the price drop after President Joe Biden signed a $1 trillion infrastructure bill.
Including the crackdown on Chinese miners who lost their influence in the crypto world. Mining power has subsequently shifted to the United States.
Amid the bitcoin crash, there is positive news. Square Mobile Financial Platform Cash app will add Taproot Bitcoin which will be supported from December.
Taproot upgrades, which together consist of three updates, including speed, privacy, and the ability to program. Additional improvements are planned to further build the strength of the Bitcoin ecosystem.
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Wednesday, November 17, 2021