The digital currency bitcoin dropped to $18,707 at 01:20 (Moscow time) on June 19. data Cryptocurrency exchange Binance.
The cost of the digital currency fell below $19,000 for the first time since the end of November 2020. The price of the first cryptocurrency in the world has been falling since June 6, 2022. It was then trading above $31,000.
at the beginning of June 18 reportedAs of 9:55 am (Moscow time), bitcoin reached $19,450k and the drop was 6.57%.
Even that day, the decline continued. As of 10:05 (Moscow time), the bitcoin exchange rate was down 7.22%, holding it at $19,342k.
On Monday, June 13, the bitcoin rate fallen It gained almost 12% and broke another psychological mark of $25,000. The first cryptocurrency brought other coins with it.
Experts explain the decline in the digital asset primarily with inflation in the United States. The second reason for the collapse of cryptocurrencies, economists call the tightening of the monetary policy of the central banks of different countries: first of all, the US Federal Reserve and the European Central Bank.
The third reason for Bitcoin’s decline, analysts point to transactions related to the collapse of the stablecoin UST (stablecoins are cryptocurrencies whose rate is directly tied to the real currency, usually the dollar).
Barbara Dickson is a seasoned writer for “Social Bites”. She keeps readers informed on the latest news and trends, providing in-depth coverage and analysis on a variety of topics.