Reported about 1 year ago
Bitcoin's price fell below $55,000 due to the German government selling a large amount of bitcoin and the ongoing repayment of bitcoin to Mt. Gox creditors. Mt. Gox transferred nearly $2.71 billion in bitcoin to creditors, causing reverberations in the crypto market. The German government's decision to sell off bitcoin has faced criticism, with the price of bitcoin dropping approximately 6% to below $55,000.
Source: YAHOO