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Bitcoin drops to lowest level since September

The world’s largest cryptocurrency has lost more than 40% of its value since hitting a record high of $69,000 last November.

Today, Friday, the “Bitcoin” currency (Bitcoin) fell by more than 5% to its lowest level since the end of last September, as it fell to less than 41 thousand dollars in light of a broader sell-off of cryptocurrencies.

Bitcoin fell 3.7% in its last trading after touching 40,938 dollars, its lowest level since last September 29.

The world’s largest cryptocurrency has lost more than 40% of its value since hitting a record high of $69,000 last November.

Bitcoin was hit this week in the wake of an internet outage in Kazakhstan caused by a escalating wave of protests, which negatively affected the country’s fast-growing cryptocurrency mining.

Bitcoin also faced pressure after announcing the facts of the latest meeting of the US central bank – the day before yesterday – Wednesday – which appears to be heading for more tightening of monetary policy, which undermined investors’ appetite for risky assets.

Ethereum, the second largest cryptocurrency, fell by 8.6% to $3,114, its lowest since October 1.

And the price of Bitcoin increased by about 60% over the past year, to outperform other financial assets, amid reports about its importance in fighting inflation
And its role in diversifying investments and adopting financial institutions for it, but it has faced problems in recent weeks in light of the turmoil in financial markets.



Reference-www.aljazeera.net

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