Bitcoin price falls below $20K after Powell speech
The largest and most popular cryptocurrency Bitcoin price has fallen again. The price of the Bitcoin fell below $20,000 on Saturday, Which has decreased by 60 percent compared to last year's peak price.
On Saturday, the price of Bitcoin fell 1.5 percent to $19,946, Which is $298 less than the previous day.
On March 28 of this year, the price of the Bitcoin increase to 48 thousand two hundred and 34 dollars. Compared to that, its current price has decreased by 58.7 percent.
According to Reuters report, the risk to the currency comes after Federal Reserve chief Jerome Powell issued a warning about its value. In addition, the authorities move on the currency's interest rates has raised concerns among several investors.
Edward Moya, senior market analyst at transactional company Wanda, said on Saturday “Bitcoin fell below $20,000 as investors expected the price to rise later this week”.
"Probably more depressed than Fed chief Powell are bankers in Europe and Central Asia. Many traders are mentally preparing for a weak day from Sunday night”.
According to a Reuters report, Earlier, the price of Bitcoin fell below $20,000 in mid-July.