Bitcoin, a cryptocurrency (virtual currency), fell on the 10th. It has fallen below $ 40,000 for the first time since September last year, making it the worst start of the year since the start of Bitcoin trading.
Bitcoin was temporarily down 6.3% to $ 39,663 in the New York market. The decline since the beginning of this year has reached regarding 14%, the highest rate of decline at the beginning of the year since at least 2012. Ether also dropped slightly, and the Bloomberg Galaxy Crypto Index fell for the fourth consecutive day.
“Cryptocurrencies are likely to continue to be under downward pressure as US financial authorities reduce liquidity injections,” said Jay Hatfield, CEO of Infrastructure Capital Advisors. “Bitcoin might fall below $ 20,000 at the end of the year,” he said.
Bitcoin trading began in 2009, but initial pricing information is limited.
Bitcoin price changes
Source: Bloomberg
Original title:Bitcoin Is Off to Worst Annual Start Since the Dawn of Crypto(excerpt)
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