Bitcoin Price Drops to Its Lowest Level, Investors Are Cautious
BONSERNEWS.com – In the last three weeks the price of Bitcoin is at its lowest level.
In the trading session Friday 19 September 2022 it fell to its lowest level below US$22,000 or IDR 327 million amid a sudden sell-off of crypto assets in early European trading.
All Bitcoin holders feel anxious because of this fall in bitcoin prices.
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Many investors are selling because of the panic that bitcoin prices continue to fall.
Bitcoin fell from US$22,738 to under US$21.12.34 at 4:00 pm Friday September 19 2022.
The decline came shortly after the world’s largest digital coin surpassed the $25,000 level for the first time since June following gains in US stocks.
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The specific cause of the decline at that time, which also saw Binance Coin, Cardano and Solana fall, remains unclear.
Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said the declines did not represent a flash crash pattern, as the asset did not rebound sharply immediately, but instead sank lower in the following hours.
“It seems that this happened as a result of a large sales transaction, without any other external factors,” said Susannah, Sunday, August 28, 2022.
He added that Cardano made the first drop, followed by Bitcoin and Ether and then smaller coins like Dogecoin.
With the decline in Bitcoin, other small coins are sinking and unable to move up.
“This has dropped amid concerns that the market is heading into a crypto winter,” said Susannah.
“Although at US$21,800 Bitcoin is still far from its June lows below US$19,000, volatility has once again ravaged the market.” continued.()