Dogecoin’s price has declined for two months already. A small rebound is not strong enough to change the downtrend. Moreover, while most cryptocurrencies fall, buyers pay attention to DOGE least of all.
Because of the hack of the Bitfinex exchange on August 2, all cryptocurrencies this week fell. Litecoin’s price fell to the lowest level of the month, but a day later it began recovering as did the other cryptocurrencies.
Last week the cryptocurrency markets had no dramatic volatility or movements to please crypto traders. Investors were in no hurry to take risks and invest in bitcoin or altcoins. Temporarily, a slight equilibrium was established between buyers and sellers.
One feature of Bitcoin, especially this week, is that the price of this coin holds on at the same level for quite a long time. But when the price finally changes, the question arises: why did it change? What factors increasingly impact BTC price: market or technology?