A new round of selling tide!Bitcoin price returns to the level of December 2020

Zhongxin Jingwei, June 13th. According to the Wall Street Journal Chinese website reported on the 13th, Bitcoin's defeat this year has further deepened. In the widespread selling caused by rising interest rates, the price of this world's largest cryptocurrency fell to $ 25,000.

According to reports, after the decline in digital currencies on weekends, it was further lower on Monday morning in Asia, which was higher than the latest inflation data from expected. Investors have intensified investors' concerns about the Fed may take more powerful action to suppress prices. As of 15:00 on June 13, Bitcoin was reported at $ 25,297.

Bitcoin price trend (as of 15:00 on June 13) Source: Britain

According to data released last Friday, the inflation rate of consumers in the United States in May was 8.6%, which exceeded expectations and set the highest level for more than 40 years. These data promoted the decline of the US stock market last Friday and made the decline spread to the Asian stock index on Monday.

It is reported that the Bitcoin was US $ 25,176 in the second morning of Monday morning in Hong Kong time, which was 13.8%lower than at 5 pm Eastern Time on Friday. If this level is maintained in New York's transaction time, it will be the lowest day -end level since December 2020.

The report quoted Ideg Asset Management LTD. Chief Investment Officer Markus Thielen that the market remembered the comments of the Fed Chairman Powell last month. He said at the time that if the inflation would decline, the Fed must take more powerful action.

Thielen pointed out that the consumer confidence survey of the University of Michigan's University of Michigan showed that the public's expectations for inflation in five years would jump from 3%in May to 3.3%, the highest level since 2008.

At present, Bitcoin has fallen by more than 60%from the historical high touched in November 2021, when it touched $ 67,802.

It is reported that before the latest wave of cryptocurrencies falling, US Financial Minister Yellen said last week that cryptocurrencies were very risky for most retired savings. (Zhongxin Jingwei APP)

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