Daily Management Review

Bitcoin loses 5% in value


Bitcoin’s price is down 5 per cent in the past 24 hours to $41,200 on Friday morning, trading data showed.

Jorge Franganillo
Jorge Franganillo
Bitcoin fell 4.9 per cent to $41,300, according to CoinMarketCap, a portal that calculates the average price across more than 20 exchanges. Everywhere, the dynamics are given for the day.

Analysts said that geopolitical uncertainty was the reason for Bitcoin's depreciation. "The current geopolitical conflict and macro uncertainty could lead to continued volatility. If we see another strong round of pressure on prices, recent events give us some confidence that there will be buyers in the $33,000-35,000 range," Bloomberg quotes Fundstrat's head of digital currencies strategy Sean Farrell as saying.

Bitcoin fell almost 17% in January, recovering slightly in February and rising 12%. Since the beginning of March, the cryptocurrency has so far seen a decline of around 5%.

At the end of last year, Bitcoin rose in price 1.6 times - up to $46.2 thousand from $28.9 thousand. Moreover, in the first quarter, the cryptocurrency doubled in price to $58.7 thousand. In November, Bitcoin reached a historic high of $69,000, after which it moved downward.

source: coinmarketcap.com