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Tuesday, February 27, 2024

Cryptocurrencies are diving. Bitcoin is back below $20,000

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After a few days that could give hope for a rebound, cryptocurrencies are falling again today. Bitcoin again fell to the psychological limit.

Bitcoin has been worth around $20,000 since June 15th. It was then that the sharp drop from the previous psychological level around $30,000 ended. For exactly two weeks, the largest cryptocurrency remained at a level that seems to be cracking. If the trend continues, we may see further lows.

Bitcoin is cheaper and pulls other cryptocurrencies with it

One bitcoin is currently worth just under $20,000. This is the first such low since June 23, when the largest cryptocurrency began to rise, and with it, all other digital assets. This gave a glimpse of hope that the worst moments are already behind for the market. However, on June 27, the correction in the market ended, and the cryptocurrency returned to a downward movement. Bitcoin hit the $20,000 psychological limit again today, which has been broken. In daily terms, the decline is now 5.3%. Over the week, the cryptocurrency fell by 1.1 percent.

Ethereum also recorded a clear decline. In 24 hours, the second cryptocurrency has fallen in price by almost 8 percent. However, there is still 4 percent left on a weekly basis. up, which shows how strong the recent days have been in the market. The fall is also observed in the popular Cardano and Solana projects. Accordingly, over the past day they lose 4.8 and 9.8 percent. They are still positive on a weekly basis.

Memcoins have plummeted

They are also losing a lot of meme cryptocurrencies, mainly Dogecoin and Shiba Inu. Elon Musk’s favorite cryptocurrency fell 9.8 percent in a day. and is currently $0.06. On a weekly basis, it is still close to 6 percent. positive. Shiba Inu loses even more. Cryptocurrency fell 11 percent that day, but in seven days it still remains at 3.8 percent. positive.

Source: WPROST.pl

Source: Wprost

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