The most traded cryptocurrency on the market fell below 90 thousand dollars – it is below a recently defined limit.
O bitcoin, the most traded crypto asset on the market, fell more than 2% today, to less than 90 thousand dollars, the lowest level since April. According to data from the financial news agency Bloomberg, at 6am (Lisbon time) the cryptocurrency was cair 2,41%, us 89,901.94 dollars (77,536 euros).
The cryptocurrency even fell to 89,231.50 dollars (76,958 euros) at 4:47 am.
In the last month, bitcoin has accumulated a drop of about 20%after reaching an all-time high of 126,251 dollars (108,883 euros) on October 6.
Bitcoin’s fall was sharp last week. And, reinforcing speculation about a possible curfew cycle of the famous cryptocurrency.
But expert Ki Young Ju, from CryptoQuant, undervalued last week’s drop and pointed to a limit: “Those who entered the bitcoin market 6 or 12 months ago have an average investment price close to 94 thousand dollars. I don’t think the down cycle is confirmed unless we lose this level. I prefer to wait rather than jump to conclusions.”
Now, the currency fell to below 90 thousand dollars.
As long as there is a flow of capital – and there is, there continues to be investment – it is not a downward cycle, continued the expert.
Simon Peters, an analyst at eToro specializing in cryptocurrencies, explained that “the loss of trust of investors in new cuts in interest rates by the US Federal Reserve is weakening the price of bitcoin.
“The probability of a 25 basis point cut at the December meeting is now less than 50%, which highlights the market’s continued risk aversion,” the analyst added.
