Bitcoin price declined again
Bitcoin's crazy horse has stumbled at this point. The value of the world's largest and most widely used cryptocurrency has dropped by almost half since two months ago. In one day, the price dropped four percent to $ 34,000.
Edward Moya, a senior market analyst at America Chapter of the US-based Foreign Exchange Company (Wanda), said in a research note that the price of Bitcoin has also declined as cryptocurrency traders tend to take risks after a sharp fall in the stock market.
"Bitcoin is within the danger-line, and if it reaches $ 37,000, it won't take long for it to reach $ 30,000," he said.
Last November, the price per bitcoin was 69,000; It was at $ 35,049 before plummeting to $ 34,000 on Friday, Reuters reported.
On the one hand, the possibility of raising interest rates from the US Federal Reserve; On the other hand, Reuters reports that the crazy horse of the market price of the currency has stumbled due to the declining tendency of investors to take risks due to the fear of inflation.
On Friday, the stock market crashed on other risky trading markets. Meanwhile, the S&P 500 and Nasdaq have suffered their biggest declines since the onset of the pandemic in March 2020.
Ether, the currency of the Ethereum blockchain network, also fell 6.7 percent to $ 2,396 on Saturday.
