2023-08-18 16:11:00
Bitcoin had a significant drop this Thursday. The most used cryptocurrency in the world drilled US$ 26,000 and reached its lowest value in two months.
digital currency reached a price of US$ 25,350which represents a daily loss of 11%, the largest in a single day since last November 9. Although it moderated later, it rose US$ 1,150 and reached US$ 26,500 with which he closed the day.
In addition to Bitcoin, other cryptoassets such as Ethereum, BNB, XRB, Cardano and Solana they also registered falls in the last 24 hours of between 8% and 15%as reported by the Coinmarketcap portal.
Massa’s harsh phrase regarding the economic moment: “I had to take the cold ‘tomuer'”
The reasons behind the fall of Bitcoin
These downward swings they were given in a frame of fear because the United States Federal Reserve instrument new increases in its interest rate.
The monetary entity revealed this Thursday that, in its last meeting, officials are still concerned regarding consistent inflation on North American soil, which it might lead to more increases being available in this regard.
According to William EscuderoRegional Manager and Strategic Alliances of CryptoMarket, this not only had its impact on digital assets, but also the effect it was also felt in the stock markets. “The S&P fell 0.8%; while the Nasdaq Composite fell 1.2% and the Industrial Dow Jones fell 0.5%,” he explained, in dialogue with PROFILE.
The importation of cars was stopped: it has been almost two months since units entered
Simultaneously, there was bankruptcy filing for Evergrande, China’s second-largest real estate developerwhich filed for bankruptcy under Chapter 15 Bankruptcy before the New York courts.
This caused investors will begin to take refuge in assets considered safersuch as US Treasuries, causing Bitcoin, among other cryptos, to lose value.
Nevertheless, It is not news that this drop in the currency occurs at this time of the year. . . . “Historically August and September it has been months of correction for Bitcoin“, held Raul OrtizBitwage Business Developer for Latam.
Will the cryptocurrency rise once more?
Despite the fall of Bitcoin, the projections in the short and medium term are positive. “If the projection continues in this area at the end of the year is somewhat more optimistic as soon as to a speedy recovery“, Escudero said.
It should be noted, in this regard, that a new Halving is scheduled for April 2024: an event scheduled every four years that halves the amount of new bitcoins users receive for mining and that increases its value.
speculations They talk regarding the BTC might reach stratospheric figures prior to that day. In fact, Adam Back, CEO of Blockstream, believes that “it will reach 100 thousand dollars”. And despite the negative movements of these days, it is the volatility, and its high demandthe key that allows us not to rule out that an increase of this caliber might occur in the coming months.
RS / LR
1692376892
#Bitcoin #sharp #fall #reached #lowest #months
