Bitcoin Dropped Below 60 Thousand Dollars: It Could Fall Even More

Bitcoin reached its all-time high in March 2024 and reached $ 73 thousand 738. The leading cryptocurrency, which started to decline afterwards, lost 15.51% in value in the last month. As Bitcoin volume dropped below $1 trillion, it was the biggest monthly decline since November 2022, when the FTX exchange went bankrupt.

The decline in crypto markets does not only affect Bitcoin. CoinDesk 20 index When we look at it, we see a decrease of 6.23% in the last 24 hours. Of course, there are some reasons for this decline. Economic factors added to the corrections following the records are among the reasons for the decline in prices.

Hong Kong stock market also failed to meet expectations

on the Hong Kong stock exchange spot investment fund transactions Failure to show the expected performance created an interest rate risk in the cryptocurrency markets, and these investors resorted to selling their cryptos. This was effective in the decline in Bitcoin and other cryptos.

Generally speaking, it was observed that there was stagnation in traditional markets as well. in the USA Nasdaq It closed yesterday with a 2% decrease. Borsa Istanbul has been showing a similar trend recently. In such times, people turn to safer investment instruments. This negatively affects cryptocurrencies.

According to some experts, this decline in cryptocurrencies will continue for a while. Chief Investment Officer of crypto firm Ledn According to John Glover Bitcoin price 50-55 thousand dollars range will decline.

This content is not an investment advice…