Bitcoin has doubled its value and soared to mind-boggling highs in the last year, but the king of cryptocurrency stumbled a bit in late August.

The digital coin dipped to a 30-day low around $108,000 on Friday, down from a record high of $124,457 mid-month. A few factors are likely at work in the coin’s dip.

Why is Bitcoin dipping?

Cryptocurrency traders have observed activity this week from a Bitcoin “whale” – someone holding a huge position in a given coin – that on its own might be enough to move markets. When a whale moves their assets around, the size of the trade can send a coin up or down and spook onlookers, who might be inclined to follow suit.

Earlier this week, one whale sold 24,000 Bitcoin worth $2.7 billion in a single day. Another trader with a massive position in Bitcoin

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