Drastic drop in Bitcoin, the lowest level this year

10.05.2022. / 17:08

LONDON – The price of Bitcoin today was 31,667.00 dollars, which is a drastic drop of about one third of the total value compared to the beginning of this year, when this cryptocurrency cost 46,726 dollars.

Photo: EPA

By the way, the cryptocurrency market has been under pressure for the last few days, and there has been a big disturbance in the past thirty hours.

According to Coinmarketcap, the price of Bitcoin fell by 7.82 percent today.

As a reminder, in August 2020, Bitcoin was traded at a price of around 30,000 to 29,807 dollars. However, after that fall, Bitcoin showed a huge momentum and on November 8, 2021, it reached a value of 67,000 dollars.

The price of Ethereum today fell 5.58 percent to $ 2,330.99 in the last 24 hours. Bitcoin fell 19.26 percent in one week, while Ethereum fell 18.17 percent.

Experts warn: A further decline is expected

Billionaire and cryptocurrency investor led by Galaxy Digital Holdings Michael Novograc, warned that he expects things to get worse in the market.

“Crypt is probably traded in correlation with Nasdaq until we reach a new balance”Novograc said in a report on earnings in the first quarter of the Galaxy on Monday.

He added that investors could expect “a very unstable and difficult market for at least the next few quarters, before people get the feeling that we are in balance.”

The director of the Luno crypto exchange for the Asia-Pacific market, Vijay Ajar, said that Bitcoin lost stability the moment it fell below $ 37,500.

Ajar warned that a further decline could be expected.

“If Bitcoin falls below $ 30,000, the price will continue to fall. Then it will be certain that it will fall to the level of $ 25,000. “said Ajar.

Rakon (RKN), Metacyber (METAC) and BitBall (BTB) were among the biggest winners in the last 24 hours. Rakon (RKN) had a huge jump of 818.61 percent in the last 24 hours.

Metacyber (METAC) rose 603.91 percent, while BitBall (BTB) was in third place, recording a jump of 311.47 percent.


Source: Capital.ba – Informacija je capital by www.capital.ba.

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