Bitcoin Falls Below $40,000 Mark To A 5-Month Low

Qinghai1周前Finance255
 Bitcoin Falls Below ,000 Mark To A 5-Month Low

Bitcoinfell over 5 per centon Monday to itslowest in over fivemonths, tumblingunderthe $40,000 level.

The largest cryptocurrency fell as far as $39,558, itslowest since August5, 2021. It was last down 4.7 per cent, more than 40 per centbelowa record high of $69,000 hit in November.

After taking a tumble on Monday, it recovered some ground, rising to $41,198.

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Its recent decline meanwhile continues to drag down other cryptocurrencies.

"The main culprit behind the slump in crypto prices is the Fed's decision to withdraw massive liquidity, which has been pumped into markets since the onset of the coronavirus pandemic," Naeem Aslam, chief market analyst at Avatrade, said.

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