Bitcoin, the best-known cryptocurrency in the market, deepens its falls this Tuesday by falling 3%, with which in one week it accumulates a loss of its value of 28%.
(Reasons that led to the collapse of world stock markets this Monday).
First thing in the morning, and according to data from Bloomberg, Bitcoin was down 3% to hit $22,520.
However, during this early morning he lost 10.25%, until touching a minimum in the 20,800 dollars.
The cryptocurrency today adds its eighth consecutive session down, although the greatest losses were recorded the day before, when it collapsed 15%.
And this, after learning that the cryptocurrency trading and lending platform Celsius Network suspended all withdrawals, exchanges and transfers between accounts as a result of the “extreme conditions” of the market.
(Bitcóin loses more than 14% and hits lows since December 2020).
Nevertheless, experts recall that since last Friday, when the US inflation data was released, which surprised on the upside, bitcoin has fallen sharply.
In this sense, the IG analyst Sergio Ávila assured that inflation in the US, which rose to 8.6% in May, higher than expected, “It causes the market to discount more aggressive increases in central bank interest rates and puts pressure on the US Federal Reserve (Fed) to increase its rates further.”
“The rises in interest rates negatively affect technology, all sectors that have to do with growth and, of course, cryptocurrencies, which are conditioned in the same way,” Avila noted.
Since the last increase in interest rates announced by the Fed, on May 4, bitcoin has lost 40% of its value. Likewise, the value of this cryptocurrency is reduced by 50.6% in the year and by about 66% from the historical maximums that it reached last November, when it touched the 69,000 dollars.
EFE
