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. It was down to the $19,500 mark. Now its rate reaches $19,800. Это данные from project CryptoDeFix. 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.