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Bitcoin has broken through the level of $26 thousand


Mei, 12 2022
watermark Economic news

The bitcoin exchange rate continues its decline, which began yesterday. The current quote of the most popular cryptocurrency is $27.775.40, the daily minimum was marked at $25.845. The market capitalization of the asset decreased to $515 billion with daily trading volumes of $ 71 billion. 


The crypto market began to decline after the publication of inflation data in the United States. According to the US Bureau of Labor Statistics, consumer prices rose by 8.3% in April. This indicator turned out to be 0.2% higher than forecasts (8.1%) and approached the highs for 40 years.  


Such statistics somewhat scared investors who hurried to get rid of high-risk assets, including cryptocurrencies. According to experts, both stocks and crypto assets fell in price, which caused panic in the market.


It is worth noting that bitcoin has already fallen below the level of $29 thousand twice in a week. Experts call the $30 thousand level a landmark reference point for bitcoin – until recently, the cryptocurrency rose above $40 thousand, but quickly returned back. 


Another event that had an impact on the cryptocurrency market was the news about the Terra project. Unexpectedly, the popular TerraUS stablecoin rapidly collapsed, its exchange price was much less than the declared $ 1. At the same time, it is known that the stablecoin was provided by other digital assets, including bitcoin.


In addition to bitcoin, other cryptocurrencies have also fallen in price. The Ethereum exchange rate today is located at $1909.35 (the daily minimum is $1720.58). The cost of Binance Coin has lost 26%, XRP and Solana have become cheaper by 28% and 35%, respectively. The overall valuation of the cryptocurrency market decreased by 18.5% to $1.2 trillion.


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Pertukaran wang asing amat spekulatif dan kompleks, dan mungkin tidak sesuai untuk semua pelabur. Perdagangan forex boleh menghasilkan keuntungan atau kerugian dalam jumlah yang besar. Oleh itu, adalah tidak digalakkan untuk melaburkan wang sekiranya anda tidak bersedia untuk menanggung kerugian. Sebelum menggunakan perkhidmatan yang ditawarkan oleh ForexMart, sila fahami risiko yang berkaitan dengan perdagangan forex. Dapatkan nasihat kewangan bebas sekiranya perlu. Harap maklum bahawa prestasi masa lalu atau ramalan bukan petunjuk yang boleh dipercayai untuk hasil di masa hadapan.