Cryptocurrency prices fell on Sunday, posting collective losses and a decline in trading volume.
The price of Bitcoin (BTC), the world’s largest and most popular digital currency, fell 0.78% on Sunday to $2,017.18.
The market capitalization of the world’s most popular cryptocurrency also fell to $439.96 billion.
The price of Bitcoin reached a high of $69,000 last November.
The market value of cryptocurrencies fell on Sunday by 1.03%, to reach $1.09 trillion, and the volume of cash flows during the last 24 hours amounted to $42.87 billion.
The rise in stock markets in general stimulates investors to seek higher-risk assets such as digital assets.
After entering a dangerous downtrend since the beginning of 2022, cryptocurrencies have slowed their decline and showed signs of recovery last July.
During its recovery, the largest cryptocurrency surpassed $24,500, and this positive movement became evident following the Federal Reserve raised interest rates by 75 basis points.
The price of the bitcoin currency reached its highest level at $69,000 last November, and the price of the world’s most popular digital currency rose by 9.25%, to reach $23.748, the highest level since mid-June.
In just two days, the largest cryptocurrency by market capitalization surged more than 12%, pushing the price to its highest point since the collapse of Bitcoin on June 13.
This comes as investors await interest rate hikes from central banks in Europe, England and the United States.
The American “Wall Street” market also expected the cryptocurrency to deteriorate to a very bad degree, and Bloomberg also suggested that Bitcoin would drop to $10,000.
According to the American agency “Bloomberg”, there are expectations that Bitcoin (the most famous cryptocurrency in the world) will drop to the level of $ 10,000, to lose half of its value at the present time, knowing that it has lost regarding 60% of its value since the beginning of 2022.
currency sweeps everyone
There is a cheap currency that does not exceed the value of half a dollar, which succeeded in leading the gains of the 100 largest digital currencies on Sunday, coinciding with the receding of Bitcoin’s losses and exceeding levels of 23.1 thousand dollars.
The Loop Ring, one of the cheap currencies, rose during these moments by more than 20%, reaching levels of $0.4848, up from $0.402 levels in the past days.
