The price of bitcoin has fallen below the $20,000 level for the first time since mid-January as a wave of bearish news has overwhelmed crypto's strong 2023 uptrend.
The largest cryptocurrency by market capitalization quickly regained some of its lost ground late Thursday and was recently hovering at about $20,040, down 7.7% over the past 24 hours. After reaching a record high over $69,000 in November 2021, bitcoin tumbled late that year and all through 2022 to begin 2023 at around $16,600. A powerful rally into mid-February had bitcoin ahead more than 50% for the year at one point to $25,000.
Events since, though, have given ample reasons for sellers to emerge. Among them was a stronger-than-expected inflation report that called into question the U.S. central bank's early 2023 assertion that a disinflation trend had begun. The Federal Reserve itself has acknowledged as much, with its Chair Jerome Powell
telling Congress that the central bank has far more work to do to bring inflation back to its 2% target.
SteveAlpher I’ve always said it wasn’t smart being on crypto until it got somehow stable. although bitcoin is still having 5% and more daily changes, it seems like lately it is steady in the 20k area. If that’s it though, it should be treated like any other currency on the forex market.
Santosjoaquim33 SteveAlpher Bitchcoin 🤣🤣🤣🤣
SteveAlpher lol🤑🔥
SteveAlpher … forks 🍴 coming … $BTC Ordinals IMO NFA DYOR $5K Bitcoin
SteveAlpher
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