New York (Agencies) – The price of bitcoin cryptocurrency fell during trading today, Monday, to less than $ 40,000, the lowest level since last September, poised to post its worst start annual since the emergence of digital currency.
And the Bloomberg News Agency reported that the world’s largest digital currency today fell 6% to $ 39,774, losing about 14% of its value since the start of this year. This drop is the largest at the start of the year since at least 2012. The least popular Ether cryptocurrency fell today, while the Bloomberg Galaxy Crypto Index fell for the fourth day in a row.
Jay Hatfield, CEO of Inverstructure Capital Advisors, said that “the pressure on digital currencies is likely to continue as the Federal Reserve (the US central bank) reduces the amount of money” injected into the financial system.
He added that he expects the price of bitcoin to drop below $ 20,000 by the end of 2022.
It was Satoshi Nakamoto, who launched the digital currency Bitcoin following the 2008 global financial crisis, and began trading this currency in 2009.