THECRYPTO.WATCH – Bitcoin Price Cryptocurrency, days for the cryptocurrency market. During this one week, the decline that occurred in Bitcoin was almost 15 percent in the data. The strong bearishness that occurred in crypto currency assets such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Dogecoin (DOGE) and their friends continued this weekend on Saturday (22/1/22).
In response to the increasingly steep state of cryptocurrency asset prices, analysts said that the decline could continue again.
Looking at the updated prices on Coinmarketcap, this Saturday noted that the price of Bitcoin continued to decline. After successfully breaking through on Friday the strong support value of 40,000 USD. BTC, which is the crypto asset with the largest market cap, is currently around 35,000 USD. Compared to yesterday’s closing price, BTC is down more than 7 percent. In the data records, it is written that BTC has fallen by more than 15 percent.
By looking at this price movement that fell sharply, it set a new record. The price of Bitcoin returned to its lowest level in July 202.
Not only in BTC assets, the decline also occurs in other crypto currency assets. Like in the cryptocurrency Ethereum. The currency with the second largest market cap also fell significantly at around 2,400 USD. Recorded down to 22 percent more for a matter of 7 days.
The price of the DOGE asset (Dogecoin), which has always been supported by Elon Musk. Previously, it also dropped to 5.73 percent, now in the price range of 0.144 USD. Compared to last week, it has fallen by more than 25 percent.
The Shiba Inu crypto has also fallen drastically, now it is in the price range of 0.00000218 USD. Down very significantly by 29.43 percent in 7 days.
Gabriel Rey, CEO of Triv, emphasized that rumors of a rate hike by the US Federal Reserve were the main cause of the cryptocurrency’s bad performance this week. Due to the threat of US tapering by the central bank until March, it is certain that the price movement of bitcoin and Its friends will continue to be depressed.
Plus, pressure from Russia. Where they assert loudly that they refuse all forms of transactions using cryptocurrencies. Starting from mining to trading transactions are not allowed in Russia.