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Bitcoin settles for its biggest daily decline since 2023
money and business
Economy News - follow up
The price of Bitcoin stabilized today, Sunday, after suffering its largest decline in more than a year, as part of a broader decline in cryptocurrency markets, as escalating geopolitical tensions in the Middle East stimulated risk aversion.
The price of the largest cryptocurrency fell 7.7% yesterday, Saturday, recording the largest decline since March 2023. The token pared some of the decline to trade at about $63,700 at 6:35 am in Singapore on Sunday, while most other major currencies, such as “Ether,” suffered losses. “Solana” and “Dogecoin,” the crowd’s favorite, suffered losses throughout the day.
Digital assets trade over the weekends, giving investors a glimpse into the likely mood when traditional markets reopen on Monday, although a lot could change between now and the reopening.
The price of Bitcoin fell by about $10,000 from its record level recorded in mid-March of $73,798. Demand for exchange-traded funds, which debuted in January, helped the cryptocurrency reach all-time highs, but net investment coming into the products has declined recently.
Cryptocurrency speculators are awaiting the so-called Bitcoin “halving”, which will reduce the new supply of the token by half, and is expected to happen around April 20. Historically, halvings have proven to be a supportive circumstance for prices, although there are growing doubts about whether this is likely to happen again, especially after Bitcoin recently reached a historic peak.
Views 39
Added 04/14/2024 - 1:34 PM
https://economy-news.net/content.php?id=42444
money and business
Economy News - follow up
The price of Bitcoin stabilized today, Sunday, after suffering its largest decline in more than a year, as part of a broader decline in cryptocurrency markets, as escalating geopolitical tensions in the Middle East stimulated risk aversion.
The price of the largest cryptocurrency fell 7.7% yesterday, Saturday, recording the largest decline since March 2023. The token pared some of the decline to trade at about $63,700 at 6:35 am in Singapore on Sunday, while most other major currencies, such as “Ether,” suffered losses. “Solana” and “Dogecoin,” the crowd’s favorite, suffered losses throughout the day.
Digital assets trade over the weekends, giving investors a glimpse into the likely mood when traditional markets reopen on Monday, although a lot could change between now and the reopening.
The price of Bitcoin fell by about $10,000 from its record level recorded in mid-March of $73,798. Demand for exchange-traded funds, which debuted in January, helped the cryptocurrency reach all-time highs, but net investment coming into the products has declined recently.
Cryptocurrency speculators are awaiting the so-called Bitcoin “halving”, which will reduce the new supply of the token by half, and is expected to happen around April 20. Historically, halvings have proven to be a supportive circumstance for prices, although there are growing doubts about whether this is likely to happen again, especially after Bitcoin recently reached a historic peak.
Views 39
Added 04/14/2024 - 1:34 PM
https://economy-news.net/content.php?id=42444
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