Bitcoin slumps to new low for 2 months as global stock market sells
InfoQuest – Bitcoin hit a new two-month low on Friday (Aug. 18) after previously narrowing.
Bitcoin fell 0.8 percent to $26,441 on Friday. The latter hit a two-month low of $26,172 during trading on Asian stocks. This is Bitcoin’s lowest level since June 16. And bitcoin tumbled 7.2% on Thursday (Aug. 17), its biggest single-day drop since November. 2022, which is when the crypto trading platform FTX leading to bankruptcy
Reuters reports that Investors are selling bitcoin in line with the selling pressure on stock markets around the world. Amid concerns about the Chinese economy and the concern that US interest rates will remain high for a long time considering the economic recovery.
Some analysts stated that Bitcoin’s fall was also a result of a report by the Wall Street Journal that Elon Musk’s SpaceX Sells Bitcoin Holdings After decreasing Bitcoin’s book value to $373 million.
Click to read the original news from InfoQuest.
2023-08-19 08:45:22
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