The price of the leading digital currency Bitcoin
BITCOIN
-6.3%
Base:20,197.56
opening:0
High:20,398.99
low:18,736.71
change:—
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(BTC) fell briefly below $ 19,000, in part due to fears of macroeconomic concerns and a liquidity crisis among a number of high-profile crypto companies.
Bitcoin is trading at $ 19,149, down 5.2% from yesterday’s price. Overall, the digital currency fell around 56% and fell more than 70% from the all-time high of $ 68,990.90 during the month of November.
The declines in the price of currency come against the background of declines in global stock markets under macroeconomic data pressure, with the S&P 500 on the way to listing the worst first half since 1970. Bitcoin is closely correlated with stock market movements and in particular NASDAQ, with investors also worried about inflation. The rampant that is forcing the global central banks to raise interest rates, and for fear of a recession in the US and other countries.
The collapse in cryptocurrency prices has exposed the most leveraged nature of the industry and caused a liquidity problem in the leading companies in the field. Cryptographic hedge fund Three Arrows Capital went into liquidation this week, according to overseas reports. Meanwhile, the cryptocurrency exchange CoinFlex halted withdrawals from customers last week citing “extreme market conditions”.
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