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Bitcoin drops below $ 7000

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Bitcoin drops below $ 7000
November 25
09:00 2019

The rate of the most popular cryptocurrency in the world has dropped below the level of $ 7000. In May this year the market experienced such a fall for the last time.

The authoritative portal Coindesk reports that today one bitcoin costs $ 6,590. Since the beginning of the month, the decline has totaled 24%.

We recall that the cryptocurrency market remains extremely volatile. For example, in mid-July, the popular cryptocurrency almost exceeded the value of 13,000 US dollars.

Following Bitcoin, other cryptocurrencies have become cheaper as well: Ethereum has lost 7.2%, Ripple – 8.4%. Public statements by the representatives of the People’s Bank of China could cause such a fall. Official Beijing has announced its intention to significantly limit cryptocurrency trading.

However, it is too early to write off cryptocurrencies. Since the beginning of the year, Bitcoin has shown an increase of 85%. We all remember the historic high of the end of 2017, when BTC was trading for $ 20,000. Many experts believe that in the middle of next year, there will be the similar significant boom of Bitcoin.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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