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Second major shock for Bitcoin in a month. During the day, the cost of the cryptocurrency fell by $ 7,000

Bitcoin and other cryptocurrencies started Monday with a decline, but hardly anyone thought the decline would turn into a decline. In fact, the situation was repeated on September 7, when the price of the world’s main cryptocurrency dropped by $ 6,000 at once. Only the scenario of September 20-21 was slightly extended in time, and the fall itself turned out to be even more significant.

Second major shock for Bitcoin in a month.  During the day, the cost of the cryptocurrency fell by $ 7,000

If at the beginning of September Bitcoin fell from $ 51,000 to $ 46,000 in an hour, and then quickly recovered to $ 47,000, this time the cryptocurrency lost throughout the day: if at the beginning of Monday Bitcoin was worth $ 47,500, It fell to a monthly low of $ 40,500 at two in the morning on Tuesday. At the peak, the drop was 15%! And on average – about 11%. Now Bitcoin has perked up a little – at the time of writing the news, quotes have risen to $ 42,700.

Second major shock for Bitcoin in a month.  During the day, the cost of the cryptocurrency fell by $ 7,000

The scheme “Bitcoin is falling, other cryptocurrencies are falling” worked to the full. The daily decline in Ethereum is about 9% (now its cost is about $ 3,000), Cardano – 5% ($ 2.14), Binance Coin – just over 10% ($ 364). In general, the graph below speaks for itself.

Second major shock for Bitcoin in a month.  During the day, the cost of the cryptocurrency fell by $ 7,000

It should be noted that this time there is a natural reason for the fall in the cryptocurrency market: the dollar is strengthening against the background of expectations that the quantitative easing policy in the United States will roll back. Therefore, on Monday, not only the crypto market fell, but also the stock markets of the USA, Asia and Europe, and in the latter case, falling records were broken. On the back of good news about iPhone 13 pre-orders, Apple shares declined 2.14% over the day, Intel – 2.36%, Nvidia – 3.59%, Tesla – 3.86%.

How much the cryptocurrency market will fall will become clear on Wednesday, when the two-day Fed meeting ends, during which statements regarding the quantitative easing policy can be made. In the meantime, there are opinions that Bitcoin will continue to fall, the possible limit here is $ 30,000. And we already saw such a scenario in May.

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