Bitcoin falls to its worst price in more than 18 months and the cryptocurrency market crashes

Bitcoin started the  week with an average value of $23,000, a far cry from its peak of $65,000.


Difficult days for the cryptocurrency market . The leader of them, bitcoin , has started the week with its worst value in more than a year and a half: 23 thousand dollars.

According to CoinMarketCap , the price of the cryptocurrency at the beginning of this morning is between 23 and 24 thousand dollars per unit, a drop of 13% from Sunday.

This amount is the lowest since December 2020, when it had managed to exceed this figure thanks to a bull run in the market.

The rest of cryptocurrencies accompanies it

The fall of bitcoin has only caused the rest of the market to collapse.

For example, Ethereum , the second largest cryptocurrency in the world, is at an average value of 1,200 dollars, far from the 4,000 to which we were accustomed.

BNB at $ 221, Cardano at 45 cents or Solana at $27 are only evidence of the current strong downturn in the listing.

The market cap fell from $3 trillion to just $1 with this steep decline.

Why did the cryptocurrency market fall?

Last Friday, the United States Federal Reserve (Fed) confirmed the growth of 8.6% in inflation, the fastest growth in 40 years.

Economists and market analysts reportedly believed that inflation had peaked in March at 8.5% and was going to start trending lower in April and May.

Given this, investors have decided to place their money in more traditional investment mechanisms, causing falls not only in the cryptocurrency market, but also in the Stock Market.