The price of bitcoin fell after reaching a two-year peak

The price of bitcoin fell after reaching a two-year peak


The price of bitcoin fell for the first time in eight trading sessions, after reaching a two-year peak of $50,369 the day before.

On the evening of Tuesday, February 13, bitcoin lost 1.8% of its value, falling to $48,656. This is reported by the Bloomberg agency.

Speculators took a breather after a period of price growth, and profit is being fixed, the agency explains today’s correction.

The price of bitcoin fell for the first time in eight trading sessions, after reaching a two-year peak of 369 the day before

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Bitcoin added 10% in price over the last five trading sessions and 15% over the last month.

The period of growth in the price of bitcoin was caused by optimism about the US approval in January of spot exchange-traded bitcoin-ETF funds.

The availability of ETFs promises to expand the base of investors in bitcoins. At the moment, new funds have attracted more than $9 billion.

The price of bitcoin increased by 10% over the weekend. The cryptocurrency was last traded at this level at the end of 2021.

As of the evening of Monday, February 12, it amounted to more than $50,000, Coindesk crypto exchange reports.

Experts attribute the growth to the easing of China’s monetary policy. This led to an increase in asset purchases.

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This news article has been translated from the original language to English by WorldsNewsNow.com.

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