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Bitcoin price drops slightly below $19,000, are there any surprises left?

Bitcoin price today is hovering around the $19,793 mark, down 1.64% from 24 hours ago. At the time of writing, BTC is changing hands at $19,782.

bitcoin-price-drops-slightly-below-19000-are-there-any-surprises-left

Bitcoin price today dropped below $20,000

Bitcoin price trades at $19,793, down 1.64% over the past 24 hours. Thus, since the beginning of the year, Bitcoin has decreased by 57.25%. Statistical data over the past 24 hours shows that the world’s most popular and valuable BTC fluctuates between $19,793 – $20,444 (lowest-highest). According to CoinMarketCap, Bitcoin’s trading volume during this period was around $31 billion, with a market capitalization of $378 billion.

Most altcoins plummeted shortly after Fed Chairman Jerome Powell reaffirmed his commitment to fighting inflation. With the Fed drastically raising interest rates, the virtual currency and risk asset markets will be under a lot of pressure in the near future.

Many experts predict that the Bitcoin price may continue to rise in the future, after the sharp drop last week. At that time, Bitcoin suddenly fell from $ 23,000 to $ 20,883. According to experts, the decline of the cryptocurrency market is related to the stock market. The US stock market has dropped significantly in the last few days and the Fed will not stop raising interest rates until inflation is contained. If the world stock market prospers, Bitcoin can completely bounce back.

Meanwhile, Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown, said that the market does not appear to be a pattern of a flash crash, but rather a result of a single transaction, with no external factors.

The overall cryptocurrency market cap stands at $975 trillion, and Bitcoin’s dominance rate is 38.8%.

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