Bitcoin hits weekly lows again

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On the morning of September 28, the bitcoin exchange rate on the Binance crypto exchange fell to a six-day low of $18.4 thousand. As of 10:20 Moscow time, the first cryptocurrency is trading at $18.7 thousand, over the past day it has fallen in price by 7.4%.

The bitcoin rate fell sharply on the evening of September 27 after it failed to gain a foothold above $20,000. Yesterday, the value of the asset at the moment reached $20.3 thousand for the first time since September 14.

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Bitcoin capitalization is $358 billion with daily trading volumes of $47.5 billion, according to CoinGecko. The share of the asset in the market reaches 37.7%.

Bitcoin has continued to trade in a relatively tight range since mid-June. During this time, the price of the cryptocurrency dropped to $17.6 thousand and reached $25.2 thousand at the peak.

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Earlier, the former CEO of the BitMEX crypto platform, Arthur Hayes, predicted a decline in the price of bitcoin to an annual low of about $17.5 thousand. According to the well-known bitcoin maximalist, this will be caused by a decrease in liquidity in US dollars due to the current monetary policy of the US government.

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Source: Cryptocurrency

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