The agony of the most popular cryptocurrency Bitcoin continues. Its price has not changed in fact over the past month, it is traded most often in the interval from 16 to 18 thousand dollars. In the past seven days, however, a downward trend has taken on.
Losing 7 percent during the week
Bitcoin is currently trading just below the limit of 17 thousand dollars. Over the last week, the most popular cryptocurrency has lost over seven percent of its value, having traded for more than 18 thousand dollars even a week ago. Bitcoin is still feeling the consequences of a series of crashes of major cryptocurrency traders, and so its value tends to fall rather.
Ethereum for $1200
Similar developments are also seen by the second largest cryptocurrency (in market capitalization) Ethereum. Its value has fallen nearly ten per cent over the past week, and it trades around $1,200. The cryptocurrency market is also not recorded by the continued tightening of monetary policy in the form of raising interest rates, so investors prefer relatively more profitable but less risky assets. With major global central banks signaling their determination to continue raising rates, a major reversal of the trend on cryptocurrencies cannot be expected.
