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.
Source: korrespondent
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