It follows that Bitcoin, the largest cryptocurrency in the world by market value, has fallen below a key level. This came after instability in the market caused by various factors.
First of all, the decline in Bitcoin's value is related to the overall correction in financial markets. Investors are experiencing anxiety due to rising inflation and the possible perspective of tightening monetary-credit policy of central banks.
Experts also note that the market sentiment for cryptocurrency has been undermined by recent news on regulations in the USA, which proposed a new tax regime for cryptocurrency transactions.
"There is an observed increase in sales and volatility in the market, caused by various changes in the economy and legislation," noted a financial analyst.
Currently, Bitcoin is trading below a level that many considered crucial for its stability. Experts do not rule out the possibility of further price declines in the near future.
