Bitcoin drops price value to its lowest level in January
Bitcoin price decreased as much as five percent to its lowest level since late September, falling below $ 41,000 due to a large cryptocurrency sell-off.
At one point, Bitcoin slipped 3.7 percent to $ 40,938, which is its lowest value since September 29, Reuters reports.
The world’s most important cryptocurrency has lost over 40 percent of its value since it reached a record value of $ 69,000 for one “coin” in November, and the volatility that has characterized it for all 13 years of its life has not abated.
The global computer power of the bitcoin network fell sharply this week due to the shutdown of the Internet in Kazakhstan due to the riots that broke out in that country, which affected the fast-growing cryptocurrency mining industry there.
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The decline in bitcoin was also influenced by the report from the Fed meeting, according to which the transition to a more aggressive monetary policy is expected in order to reduce the appetite of investors for investments in riskier assets, the Reuters agency writes.
