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Bitcoin is heading to its lowest level in a year
Economy News - Baghdad
The value of many digital currencies fell during trading today, Monday, as the value of "Bitcoin" fell by 2.7%, according to the newspaper "Bloomberg".
The value of the world's largest digital currency (Bitcoin) decreased by 2.7% today, and was traded at $ 33,531 as of 10:28 am in London, while the value of the second largest currency, "Ether", declined by 4.6%, according to the newspaper "Bloomberg".
Bloomberg reported that most major cryptocurrencies came under pressure over the weekend and the pessimistic mood moved into Monday, noting that stocks fell in Asia and Europe, with the Nikkei down 2.5% and the Stoxx Europe 600 down 1.2%.
Rising interest rates are causing retail and institutional investors to stop thinking about the prospects for the cryptocurrency market, according to Edul Patel, CEO of Mudrex, an algorithm-based crypto investment platform. Next, he said, adding that Bitcoin could test the $30,000 level, as it will reach its lowest level since July 2021 if it drops below $32,970.
And “Bloomberg” explained that the decline of “Bitcoin” is compared to 27% in 2022 with a decline of more than 10% in global bonds and stocks, and 2.5% progress in gold.
https://economy-news.net/content.php?id=27911
Economy News - Baghdad
The value of many digital currencies fell during trading today, Monday, as the value of "Bitcoin" fell by 2.7%, according to the newspaper "Bloomberg".
The value of the world's largest digital currency (Bitcoin) decreased by 2.7% today, and was traded at $ 33,531 as of 10:28 am in London, while the value of the second largest currency, "Ether", declined by 4.6%, according to the newspaper "Bloomberg".
Bloomberg reported that most major cryptocurrencies came under pressure over the weekend and the pessimistic mood moved into Monday, noting that stocks fell in Asia and Europe, with the Nikkei down 2.5% and the Stoxx Europe 600 down 1.2%.
Rising interest rates are causing retail and institutional investors to stop thinking about the prospects for the cryptocurrency market, according to Edul Patel, CEO of Mudrex, an algorithm-based crypto investment platform. Next, he said, adding that Bitcoin could test the $30,000 level, as it will reach its lowest level since July 2021 if it drops below $32,970.
And “Bloomberg” explained that the decline of “Bitcoin” is compared to 27% in 2022 with a decline of more than 10% in global bonds and stocks, and 2.5% progress in gold.
https://economy-news.net/content.php?id=27911
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