Despite being more than $3,000 up in the past two days, bitcoin’s price trajectory has been on the downfall on a more macro scale.
As the hype dispersed in the following months and other macro-political events took center stage – such as the US raising interest rates, the rumored end of the COVID-19 pandemic, and the war between Russia and Ukraine – bitcoin slumped in value.
Although the declining network activity could spell more trouble for BTC’s upcoming price movements, there’s at least one positive outcome coming from this.
BlockchainCom shows that the average costs now stand around $1.4 and were even down to $1.04 a few days back.