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Bitcoin “pierced” the $30,000 mark for the first time since July 2021

Given this situation, experts warn about the potential risks of this digital currency and advise investors to consider carefully to find safe investment assets.

The restrictive monetary policy in the US together with the increase in inflation had a negative impact on the psychology of investors in this country.

The digital currency bitcoin has fallen below $30,000 for the first time since July 2021.

Specifically, during the trading session on May 10, the market value of bitcoin at one point fell as low as $29,764.

As a result, the value of bitcoin has more than halved since reaching a peak price of nearly $69,000 in November 2021.

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Given this situation, experts warn about the potential risks of this digital currency and advise investors to consider carefully to find safe investment assets.

The price of bitcoin has been falling steadily recently. Since the beginning of the year, the price of this virtual currency has fluctuated in a narrow range and has not been able to return to the peak at the end of 2021.

According to analysts, this drop is due to the continued decline of the Dow Jones industrial average and the US Nasdaq index.

Meanwhile, on May 4, the US Federal Reserve (Fed) raised the base interest rate by 0.5 percentage point to reduce inflationary pressure.

Cryptocurrency market news site Azcoinnews said that short-term investors are inclined to sell, due to uncertainty about the current uptrend of the market.

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