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Bitcoin Dives Below $25,000

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The price of bitcoin fell to below USD 25,000 on Monday on the trading platform Bitstamp. which is the lowest level since the end of 2020.

 

Initially, the virtual currency recovered somewhat on Monday morning, to around USD 26,000, but that was still a significantly lower rate than Sunday. A few hours later, the price continued to fall: by 10:30 am the bitcoin was worth $ 24,560.

Bitcoin has lost about 13 percent of its value since higher-than-expected inflation was announced Friday.

Before that, the currency had fluctuated around $30,000 for weeks. Since the record $69,000 in November, bitcoin has fallen in value by more than 60 percent.

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