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In May, the value of Bitcoin fell by 37%, the worst result since September 2011. However, the value of Bitcoin was very low at that time, and after this decline in October 2011, the price of Bitcoin dropped to the $ 2 mark.
In April this year, Bitcoin reached its all-time high of $ 65,000, and since then the price has fallen by about 45%. At the same time, since the beginning of the year, Bitcoin is still in the positive – this year the total increase is 25%, but compared to the same period last year, by 270%.
The decline has been driven by restrictions on cryptocurrencies imposed by several countries, as well as other factors, and current experts’ forecasts for future prices differ significantly – some predict a further decline, some believe it is only a correction and the price will soon continue to rise again.
On Sunday, the price of Bitcoin fluctuated between $ 33,000 and $ 37,000.
The fall in the price of Bitcoin has also contributed to the fall in the prices of other cryptocurrencies, including Ethereum and the popular Dogecoin.
“It’s easy to be a crypto investor, but it’s hard to be a crypto trader,” Peter Smith, head of Blockchain.com, told CNN Business. “The market is extremely volatile,” he said.
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