The bitcoin rate on Monday fell to its lowest level in more than a month, ether (Ether) – below $ 3,000.
The pressure on the cryptocurrency market is exerted by the general risk aversion of investors, as well as signals of restrained demand from new investors, Bloomberg notes.
As of 1:45 p.m., the bitcoin rate retreated 3.05% to $39,058. Earlier in the session, it fell below $39,000.
The exchange rate of ether fell by 4.2% to $2916.6.
Technical analysis shows that despite bitcoin’s recent drop, the cryptocurrency is “not yet close to oversold levels” and the nearest support level of $35,000 is likely not to hold, said 22V Research analyst John Rock.
“We remain confident that bitcoin will drop to $30,000,” the expert says.
The cost of bitcoin has fallen by 5% over the past month, and by almost 16% since the beginning of the year.
The capitalization of the global cryptocurrency market, according to CoinGecko, has decreased by 4% over the past 24 hours, to $1.9 trillion.
