Cryptocurrency Update: Bitcoin fell to the lowest level since September 2021




The most popular cryptocurrency Bitcoin on January 7, 2022, fell below $ 42,000, the lowest price since September 2021. Bitcoin has hit $ 40,938, the lowest record since September 29.

According to https://coinmarketcap.com/, the crypto currency leader with 39.92 percent market dominance and market capitalization of $ 797,578,294,757, has lost more than $ 27,000 or 40 percent since reaching a record high of approximately $ 69,000 in November 2021.


Following Kazakhstan's internet closure due to a coup, the global computing power of the bitcoin network has declined sharply this week.



According to the Cambridge Center for Alternative Finance, Kazakhstan last year became the world's second largest bitcoin mining facility after the United States. This comes after Chinese authorities took part in a crypto mining operation in late 2021

Earlier on January 5, officials during a US Federal Reserve meeting appeared to be relying on aggressive policy action, eroding investors' interest in dangerous assets.

We see a widespread sense of risk reduction in all markets right now as concerns about inflation and inflation seem to be at the forefront of the minds of speculators, "said Matthew Dibb, COO of Singapore crypto platform Stack Funds.

"Liquidity in BTC has been very low on both sides and there is a risk of going back in the mid-30's in the short term.



Currently, bitcoin was trading at $ 42,128.13, which was 2.24 percent or $ 965.42 lower compared to the opening trading price.

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