In recent weeks the Bitcoin it has been showing slight price drops, but this week it seemed to be recovering its value, until the price dropped again. This drop is happening to all the major cryptocurrencies and also with the financial market at the beginning of the year.
As analyzed by the portal decrypt, last Thursday the Bitcoin showed a small gain and returned to a value above US$ 43,000, but after that the price fell again. the currency price went down during the week until it reached $38,592 yesterday, with this becoming the lowest point of the currency since August 2nd of last year.
In total, the cryptocurrency showed an 11% drop in its market value, but this is not unique to her alone. The portal points out that the Ethereum also showed a drop at the end of the week, losing 8% of its value in just 24 hours, the Binance Coin and cardano also had drops of 10% and 9% this week.
Credits: Playback / Crypto.com
This number only gets worse if the value of the top 20 coins and tokens is analyzed, excluding stablecoins, with none recording no weekly gains, with most showing double-digit losses. On November 8, 2021 the total cryptocurrency market cap was $2.93 trillion, now dropped to a total of $1.83 trillion.
The portal decrypt points out that this problem is happening not only with the crypto market, but also with the stock markets, which are having a rough start to the year because of inflation, shortages of workers and supply because of COVID-19, and impending price increases. interest rates. For example, the NASDAQ on Thursday showed a drop of 1.3%, totaling almost 10% in the whole year.
However, the stock markets have a positive point of stopping during the weekends, which helps to “slow down” this fall. But the cryptocurrency market doesn’t stop this Saturday Bitcoin is back down and is currently valued at $35,073.04 but she this morning she even reached an all-time low of $34,020.27, its lowest since July 2021.
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Source: crypto.com, decrypt