Bitcoin drops to the lowest level in the last 1 month
July 20, 2021
The world’s largest cryptocurrency, bitcoin, fell below $30,000, hitting its lowest level in a month.
Bitcoin, the highest volume of cryptocurrencies, has lost more than 6 percent in the last 24 hours, falling to $ 29,400.
Cryptocurrencies turned their direction down again, especially with the news from China. The highest-volume cryptocurrency, Bitcoin, has lost more than 6 percent in the last 24 hours.
The fall of Bitcoin, which is currently trading at 29,840 levels, also caused a decline in other virtual currencies, including Ethereum.
According to Bloomberg’s global crypto index, cryptocurrencies have lost an average of 4 percent.
While many investors are worried that cryptocurrencies accompany the decline in global stock markets due to the concerns brought by the delta variant, Vijay Ayyar, the head of the crypto money exchange named Luno in Singapore, speaking to Bloomberg, commented that Bitcoin will “will change between $ 20,000 and $ 40,000 for the rest of the year”. .
Bitcoin drops massively after April
Bitcoin reached an all-time high in mid-April, reaching the level of about $ 65,000.
Some of the bans imposed by Chinese regulators on cryptocurrency transactions and the attempts of central banks of developed countries to issue their own digital currencies are also among the factors causing the decline.
Bank of America, the second largest bank in the USA, has started to offer some of its customers the ability to transact with Bitcoin.
Bank of America begins trading Bitcoin
Bank of America (BofA), the second largest bank in the US, is reportedly starting to allow the use of Bitcoin for some transactions.
According to Coindesk, which is based on anonymous sources, BoFA, the second largest bank in the USA, has approved Bitcoin transactions of some of its major customers.
This move is seen as a radical move for an organization like BofA that maintains its traditional stance on these issues.
Also, Bloomberg reported at the beginning of July that the bank has appointed a new team to research cryptocurrencies.
In March, Morgan Stanley and Goldman Sachs began offering Bitcoin funds to their clients. These moves by the big US investment banks accelerated the pressure on BofA. It is stated that this pressure was effective in BofA’s latest move.
Bitcoin has been having a tough time recently after falling hard from its peak in April, due to pressure from China and the moves of regulators in various countries on cryptocurrency exchanges.
Bitcoin, which has been following a very volatile course since the New Year, reached an all-time high by seeing $ 64,800 on April 14.