Bitcoin Falls Below $19,000 For The First Time In 2 Months CryptoBlog

For the first time since US Independence Day, bitcoin fell below $19,000.

The largest cryptocurrency by market capitalization was trading at $18,841 at the time of writing, according to CoinMarketCap.

The last time the asset fell below $19,000 was on July 4, when it hit $18,600. Prior to that, Bitcoin hit $18,900 in November 2020 as part of its run to all-time highs of over $60,000 the following year.

Investors seem to be losing Bitcoin for a number of reasons. As usual, the sale of the asset is closely correlated to the US stock market: stocks were down today after a volatile trading session, in part due to fears that the Federal Reserve will continue to raise interest rates.

The Fed’s monetary policy of keeping interest rates high to fight high inflation for four decades has led investors to sell riskier assets, like stocks and bitcoins.

According experts. Of course, Bitcoin fans are undeterred.

russian government said Monday that he would restore gas supplies if sanctions were lifted.

Among the ten biggest cryptocurrencies, Bitcoin is one of the worst performers today. Its nearly 5% 24-hour loss was only surpassed by Polkadot and Cardano, which were down 5.7% and 6.1% respectively over the same period.

Ethereum, the second-largest cryptocurrency by market cap, is down just 1.79% in the past 24 hours, priced at $1,568.