Bitcoin falls below $30,000, lowest since July 2021
- Date: 11-May-2022
- Source: Jordan Times
- Sector:Financial Markets
- Country:Middle East
Bitcoin falls below $30,000, lowest since July 2021
LONDON — Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors spooked by aggressive US monetary tightening and surging inflation.
The world's largest cryptocurrency by market value fell as low as $29,764 in Tuesday trade, before recovering above $30,000, extending a recent collapse in price as investors desert assets viewed as risky.
Bitcoin's value has more than halved since a November surge that sent the token to a record of nearly $69,000.
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