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2:23
Bitcoin falls to its lowest levels in 18 months
This Monday, June 13, bitcoin has fallen to its lowest levels in months. After reaching over $68,000 in 2021, the cryptocurrency has been steadily dropping in price in recent months.
At the time of writing this note, the price of bitcoin is located at 23,120 dollars per unit. This represents a drop of around $45,000 (65%) from its high of $68,190 in the month of November 2021.
Due to various problems that have been occurring around cryptocurrencies, the market has been in a constant decline for more than 6 months. In fact, the market as a whole has fallen below $1 trillion a day.
Transaction volume is closely related to the price of coins. The current global crisis and the volatility of cryptocurrencies has made many people seek to protect their money. That is why many have stopped trading bitcoins, at least for now.
Inflation in the United States has affected world markets
The United States is going through a terrible crisis in which inflation does not seem to stop. This meant that after the official inflation figures were released, the markets plummeted.
Of course, this is something that also affects bitcoin, and it is for this reason that many people began to migrate their assets to "stablecoins" to try to save their investment. The truth is that there is a relationship between the price of bitcoin and the stock market.
The market is bleeding due to the policies that the United States Federal Reserve (FED) has had to try to curb inflation. These measures are starting to weigh on markets trying not to lose their money.
Will bitcoin go back up?
Despite the fact that at the moment, the panorama around bitcoin and the rest of cryptocurrencies seems bleak, the truth is that it is very likely that its price will rise. Let's remember that this is a decentralized market that is mainly based on the trust that investors have.
Despite the bad times it is in, cryptocurrencies will continue to be a way of investing and keeping money safe. That is why it is very likely that, when you start to see an improvement in relation to the markets, the price of bitcoin and other cryptocurrencies will start to rise again.
It is difficult to predict what level of recovery cryptocurrencies may have, since everything will depend on investors. However, it is possible that we could see bitcoin back around $40,000 in a few months.
