Bitcoin price today falls under $45,000 | Tech News

Bitcoin price today falls under $45,000

Bitcoin price today fell 7.3% to $44,127 as of 7:33 a.m. in New York, reaching the lowest level in a week. Other digital assets also retreated, with Bitcoin Cash, EOS and Ether all declining.

By:BLOOMBERG
| Updated on: Aug 21 2022, 20:32 IST
The fall in Bitcoin price today mirrored the action in the broader market as investors weighed the risks coming from Evergrande’s debt woes and this week’s Federal Reserve meeting.
The fall in Bitcoin price today mirrored the action in the broader market as investors weighed the risks coming from Evergrande’s debt woes and this week’s Federal Reserve meeting. (REUTERS)

Cryptocurrency prices slumped as a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets. 

Bitcoin dropped 7.3% to $44,127 as of 7:33 a.m. in New York, reaching the lowest level in a week. Other digital assets also retreated, with Bitcoin Cash, EOS and Ether all declining. 

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
20% OFF
Samsung Galaxy S24 Ultra
  • Titanium Black
  • 12 GB RAM
  • 256 GB Storage
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Vivo X100 Pro 5G
  • Asteroid Black
  • 16 GB RAM
  • 512 GB Storage

The losses mirrored the action in the broader market as investors weighed the risks coming from Evergrande's debt woes and this week's Federal Reserve meeting. U.S. equity futures pointed to losses at the open and the Stoxx Europe 600 index dropped as much as 2%, on track for the biggest decline since July.

Also read
Looking for a smartphone? To check mobile finder click here.

“Some have attributed the sudden dip to the currently ongoing Evergrande situation in China which has already caused turmoil in traditional markets,” wrote Jonas Luethy, a sales trader at GlobalBlock, the U.K.-based digital asset broker. “Analysts have suggested a choppy week is ahead, with a potential pullback to as low as $41,000.”

El Salvador's President Nayib Bukele said the country had “bought the dip,” in Bitcoin, adding 150 tokens to raise its total holdings to 700 -- about $32 million based on current pricing. The nation recently adopted Bitcoin as legal tender in a controversial move that met with technical glitches and protests.

El Salvador's enthusiastic adoption of Bitcoin is one of the reasons why prices have been trending higher and recently hit a four-month high. Still, the market has a way to go before recovering losses since a selloff in May.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 20 Sep, 17:51 IST
Tags:
NEXT ARTICLE BEGINS