Bitcoin sank to a four-month low on Friday and was on course for its worst weekly performance in a year, hurt by uncertainty over whether Joe Biden will remain the Democrats\’ U.S. presidential candidate and by worries about potential increases in crypto supply.
Bitcoin prices fell 8% to $53,918, their lowest since February end on Friday. Ether slid 9% to $2,855, a one and half month low.
Bitcoin had a strong start to the year after the launch of exchange-traded funds in the U.S., propelling it to a record $73,803.25 in mid-March. However, bitcoin has lost more than 21% since then.
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Crypto TrackerTOP COIN SETSSmart Contract Tracker2.35%
BuyBTC 50 :: ETH 501.06%
BuyWeb3 Tracker0.87%
BuyNFT & Metaverse Tracker-0.76%
BuyAI Tracker-3.80%
BuyTOP COINS (₹) BNB44,493 (1.5%)BuyBitcoin4,831,205 (1.0%)BuySolana11,579 (0.98%)BuyEthereum260,955 (0.71%)BuyTether84 (-0.06%)Buy Investors are also fretting about the possibility of Biden being replaced as the Democrats\’ presidential nominee by someone who is less pro-crypto, market participants said, after his poor performance in the first debate against Donald Trump.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details » Analysts also pointed to reports that Mt. Gox, the world\’s leading exchange for cryptocurrencies before it went defunct in 2014, is repaying its creditors. That has sparked concern that bitcoin is likely to face further downward pressure if those creditors offload their tokens.
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