As Markets Sink, Bitcoin Hovers Around Level Last Seen in 2021

As Markets Sink, Bitcoin Hovers Around Level since 2021
As Markets Sink, Bitcoin Hovers Around Level since 2021

Bitcoin is plummeting to levels last seen in July 2021, part of a broader decline in cryptocurrencies as investors flee riskier assets around the world.

The world’s largest digital cryptocurrency fell as much as 2.7 percent on Monday, trading at $33 741 in Singapore at 12:40 p.m. Ether, the second-largest cryptocurrency, fell by 4.6 percent. Over the weekend, most of the main virtual coins were under pressure, and the negative sentiment continued into Monday.

Bitcoin is plummeting to levels last seen in July 2021, part of a broader decline in cryptocurrencies as investors flee riskier assets around the world.

The world’s largest digital cryptocurrency fell as much as 2.7 percent on Monday, trading at $33 741 in Singapore at 12:40 p.m. Ether, the second-largest cryptocurrency, fell by 4.6 percent. Over the weekend, most of the main virtual coins were under pressure, and the negative sentiment continued into Monday.

“The downtrend is expected to continue for the next several days,” he said, adding that Bitcoin might hit the $30,000 mark.

If the token falls below $32,970, it will reach its lowest level since July 2021. Bitcoin’s 27 percent drop in 2022 contrasts to a worldwide bond and stock market decrease of more than 10% and a 2.5 percent increase in gold.


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