As the selling pressure in the bitcoin market increased, the digital currency fell below $ 30,000 for the first time in four weeks.
to the the report Before the crash, YouTube experienced bitcoin fluctuations for several weeks. In this fall, Bitcoin fell below $ 30,000 for the first time since June 22. 28,613 acted as the floor of this fall.
As shown in the chart below, the price of Bitcoin at the BitStamp exchange dropped to $ 29,547.
Despite the decline, bitcoin dominance increased to around 46.8%. The decline in the price of Bitcoin and Ripple has been cited as the main reason for the increasing dominance of Bitcoin in the market.
Ethereum, the market No. 2 digital currency, lost about 8% of its value during this period.
The collapse of the digital currency market coincided with the correction of stock markets, and the decline in stock indices is said to have accelerated the decline in market prices.
Yesterday, US Treasury Secretary Janet Yellen called on lawmakers to legislate for stable coins and set legal frameworks. The meeting of the Special Presidential Council on Financial Markets also helped to strengthen the sentiment in the market.
Last week, Scott Minerd, a Guggenheim executive, predicted that the price of bitcoin might fall below $ 30,000.
$ 15,000 is the target, and some other analysts have suggested.