Bitcoin records its worst annual start since the advent of cryptocurrencies
The price of the digital currency, Bitcoin, fell during trading today, Monday, to less than 40 thousand dollars per unit for the first time since last September, heading to record its worst annual start since the emergence of the digital currency.
And the Bloomberg News Agency indicated that the most important digital currency in the world fell today by 6% to $ 39,774 per unit, losing about 14% of its value since the beginning of this year.
This decline is the largest at the beginning of any year since at least 2012.
The least popular cryptocurrency Ether fell today, while the Bloomberg Galaxy Crypto Index fell for the fourth consecutive day.
Jay Hatfield, CEO of Inverstructure Capital Advisors, said: “It is likely that pressures on digital currencies will continue, as the Federal Reserve (the US central bank) reduces the amount of cash injected into the financial system.
He added that he expects the bitcoin price to drop to less than $20,000 by the end of 2022.
Bitcoin was launched by Satoshi Nakamoto in the aftermath of the 2008 global financial crisis. It began trading in 2009.
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