The value of Bitcoin, the market’s leading cryptocurrency, recently fell below $86,000. Veteran analyst Peter Brandt was quick to point out that without market support, the price of BTC could reach $70,000.

Brandt closely monitors movements in the value of the digital currency globally, but also government announcements that could impact this indicator, such as inflation, domestic consumption, and the sale of other assets.

The trend appears to be continuing downward, also driven by the “broader sell-off across several assets, which has caused Bitcoin trading volume to decline 2.4%, to a total of $25.8 billion.”

The specialist notes that the release of the PCE inflation rate is still awaited, as that data could trigger strong selling pressure, which would further drive Bitcoin down.

M.Pino

Source: cripto247

(Reference image source: Kanchanara on Unsplash)

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La entrada Bitcoin price could drop to $70,000 due to market conditions apareció primero en Bitfinance.

Bitcoin, the main cryptocurrency on the market, suffered a drop in price close to 10 % this Monday, August 5, setting off alarms and causing the index of crypto fear and greed to accelerate.

The price of bitcoin began the current week below $53,000, “in a context of increasing geopolitical tension and fear of an economic recession in the United States.”

On the other hand, the price of ether also plummeted by 18 %, going from $2,695 to $2,118 in the same period of time, although it experienced a slight recovery to settle at $2,358, according to TradingView.

With this rapid drop in cryptocurrency prices, the total market capitalization dropped to $500 billion in the last three days. Sector analysts attribute this scenario to “the weakness of employment data in the United States, the slowdown in growth of the main technology companies in the stock market and the massive sales of the crypto asset company Jump Crypto in recent days.”

Expectations, despite this adverse environment, are that cryptocurrencies could soon hit bottom to experience a rebound in the short term.

M.Pino

Source: hispanopost

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada Bitcoin value fell below $53,000 apareció primero en Bitfinance.

This Monday, January 11, the price of bitcoin suffered a 20% collapse, after its meteoric rises at the beginning of 2021, which boosted the value of the reference cryptocurrency by 14% so far this year and more than 300% in twelve months, after the UK financial organizer warned of the risk of monetary loss for those who invested in crypto assets, which are offered for their “great profitability”.

According to data from CoinDesk, bitcoin would change for $ 30,862 this Monday, after settling last Friday with a new record of $ 41,962.

Thus, and according to this criterion, the market capitalization of bitcoin would fall to 588,330 million dollars, equivalent to 483,976 million euros, with a decline of at least 192,000 million dollars, that is, 157,944 million euros.

From Europe they invite you to consider risks

The Financial Conduct Authority (FCA) said this Monday through a statement noting that some companies were offering investments in crypto assets, loans and investments and related or linked financing that promised high returns, which certainly “implies taking very high risks with investors’ money ”.

“If consumers invest in these types of products, they must be prepared to lose all their money,” warned the British regulator.

In this way, the FCA recalled that all investments must be studied to understand what is being invested, especially those related to crypto assets, which are unlikely regarding consumers being able to access the services of the investor ombudsman or the compensation fund for services. financial, this in case things do not go as planned.

The regulator insisted that some of these investments in crypto assets that are promoted could not be subject to the rules of anti-blocking regulation, also their high volatility and the difficulty of fixing and stabilizing prices, are one more reason to be considered as possible “high losses” in in terms of risk levels.

G. Febres

With information from dpa

La entrada Bitcoin falls more than 20% and loses 158 million euros since Friday apareció primero en Bitfinance.