Bitcoin price updated two-week low
On the night of January 22, the cost of the first cryptocurrency fell below $29 thousand. This happened for the first time since January 5.
The bitcoin rate has updated at least since January 5, it fell below $29 thousand. After that, the price of the cryptocurrency began to rise again. The asset is trading at $31.5 thousand, over the past day it has fallen in price by 9%.
The market capitalization of bitcoin dropped below $600 billion to $595 billion. The daily trading volume of the cryptocurrency was $85.5 billion, according to Coingecko. At the same time, the overall estimate of the cost of digital money per day decreased by 7.8%, to $926 billion, with the share of bitcoin on the crypto market being 63.8%.
On January 8, bitcoin renewed its historical maximum, having risen in price to about $42 thousand, after which in three days its price fell to $30.4 thousand. On January 14, the bitcoin rate reached $40.1 thousand, but began to decline again. Over the past 8 days, the asset has lost almost 21% of its value.
Earlier, the CEO of the analytical company CryptoQuant Ki Yong Joo said that the decline in the bitcoin rate is associated with the American crypto exchange Coinbase. During the rapid growth in the value of the coin, quotes on the site exceeded the market average. However, they have now dropped significantly lower.