Bitcoin Fell to the Lowest Level Since January

On Monday, Bitcoin fell to its lowest level since January with the equity markets getting lower at the same time. Right now, the markets are trading with a risk with the assets like technology stocks.

kanchanara dRgxo ujT2U unsplash

In the morning trade, the world’s largest cryptocurrency dropped to around $33,266. a further fall under the level will be the lowest since July last year.

On Monday morning, the digital asset had spiked back to $33,711 getting over its overnight losses.

The stock exchange Nasdaq lost 22 percent to the date in this ongoing year and also plunged by 1.5 in the last week. It is hurt by the increasing rates despite slow growth in the market. Matt Dibb, Chief Operating Officer of a Crypto platform Stack Funds said that everything within crypto is at high risk similar to Nasdaq, as most of the cryptocurrencies are plunging.

Other factors contributing to this degradation over the weekend include the cryptocurrency market’s notoriously low liquidity in the weekend.

kanchanara WLvog4WcqRU unsplash

The very volatility in the market of the digital token could potentially slop over into the Bitcoin market. The world’s second-largest cryptocurrency, Ether has also dropped around $2,421 on Monday which is the lowest level since February this year.

Share:
Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

Leave a Comment