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Bitcoin falls to new two-month low

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The price of bitcoin has been the lowest since mid-June, which may lead to some anxiety among investors and lead to active selling of the asset.

The price of bitcoin fell to a new two-month low. The cryptocurrency fell 7.2% on Thursday, August 17, the biggest one-day decline since November 2022, when the leading exchange FTX fell. This was reported by Reuters.

Bitcoin fell on Friday, August 18, to $26,172, its lowest level since mid-June.

Sell-offs hit global markets as major Wall Street indexes closed lower on Thursday and Asian equities fell for a third week on worries about China’s economy and fears that US interest rates will remain higher for a long time, given the stable economy.

Some analysts attribute the cryptocurrency’s fall to a report in The Wall Street Journal that Elon Musk’s SpaceX company sold its bitcoins after reducing their value by $373 million.

Joseph Edwards, head of research at Enigma Securities, attributes bitcoin’s price action to low volatility and a lack of enthusiasm from retail investors. Bitcoin has reached $30,000 in recent months.

It will be remembered that since the beginning of this year, the price of Bitcoin has increased by more than 82%. Despite the growth, its rate is still below its historical maximum – in November 2021, the cryptocurrency was worth more than $69,000.

The network of services for cryptocurrency exchange has been liquidated
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Source: korrespondent

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