The bitcoin exchange rate continues to decline sharply, with the cryptocurrency dropping below $80 thousand during trading for the first time since November last year.
Bitcoin fell by 3.9% to $80,150 thousand by 14:35 on Friday, according to Coindesk. Earlier in the session, quotes fell to $78.239 thousand. Over the past month, the world’s most popular cryptocurrency has fallen in price by 21%.
The bitcoin rate rose above $109 thousand on the day of the inauguration of US President Donald Trump, hoping that the new administration would be more favorable to digital assets. However, in the absence of specific measures to support the sector, cryptocurrencies fell along with other global markets.
“Bitcoin has dropped like a stone amid investor exodus from risky assets, which has rocked financial markets,” said Hargreaves Lansdown analyst Suzanne Streeter. – “The euphoria in the cryptocurrency market was closely linked to the general enthusiasm of investors, and when it declined, there was nowhere to hide.
