Bitcoin fell in price and hit a July low
The first cryptocurrency continues to decline in value after failing to make gains at $25,000 on August 15.
On August 29, Bitcoin renewed its lowest value, which reached July 13. Data from site CryptoDeFix. It was down to the $19,500 mark. Now its rate reaches $19,800. During the day it has fallen in price by 1%, and during the week by 8%.
The value of the first cryptocurrency has been decreasing since August 15, when at the moment it reached $25.2 thousand. Over the past two weeks Bitcoin has already fallen in price by 23%. Its market capitalization fell to $379.5 billion with daily volumes of $24.4 billion.
Bitcoin’s decline has accelerated since last Friday, following a speech by U.S. Federal Reserve official Jerome Powell. At a symposium in Jackson Hole, Powell said interest rates would continue to rise to fight inflation.
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