Bitcoin reaches 50% peak in November 2021
Selling risky assets has also affected the crypto sentiment. Even bitcoin, the largest and most popular cryptocurrency in terms of market capitalization and market dominance, is not immune. The price of bitcoin fell to a low of 33,33,400 on Monday morning. Bitcoin has lost 50 percent of its value compared to its peak value of 67,67,566 in November 2021.
According to cryptocurrency operators, the bleak picture of the global economy, rising interest rates, inflationary concerns and expectations of a global slowdown in the equity market have also weighed down the value of bitcoin. The bitcoin currency is currently trading at its four-month low. This is its lowest level since January. The price of bitcoin has almost halved in the past six months. According to Koi Nageko, the value of the global cryptocurrency market is down 3% today to a low of 1.65 trillion in the past 24 hours.
Ethereum 500 below 2,500, Dogecoin also eroding
The same is true of the Ethereum cryptocurrency, which is the second most popular after Bitcoin. Ethereum is down 42 percent in the past six months. The value of the cryptocurrency, which was above 4,800 six months ago, has also fallen to 2, 2,499. Dogecoin has also lost 52 percent in price in the past six months. Dogecoin currency is trading at 0.12.