Bitcoin exchange rate fell below 17 thousand dollars

June 19, 2022 by No Comments

Bitcoin has broken through several closely watched price levels, hitting its lowest level since late 2020 below $17,000. It is reported by Bloomberg.

The rate of the largest cryptocurrency fell by 15 percent to $17,599 on Saturday, June 18, which was a record 12th daily drop in a row, according to the agency. Ether fell about 19 percent to $881, its lowest since January 2021.

Both cryptocurrency market leaders are down over 70 percent from their all-time highs set in early November. It is noted that the total amount of liquidations in the cryptocurrency market over the past 24 hours amounted to 435.5 million dollars.

Earlier, in an interview with Respect, economist Nikolai Kulbaka said that the fall of bitcoin was due to a decrease in interest in it. “It’s an asset whose value is determined by how much people want to consider it a valuable asset. Therefore, its fluctuations will be and will be large throughout the entire time of its existence, ”the expert suggested.

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