Bitcoin Price Drops Below $22,000

Bitcoin Price Drops Below $22,000

Bitcoin price dropped below $22,000

On Friday, August 19, the quotes of the first cryptocurrency fell below $22,000. Over the past day, the asset has lost 7.3%, according to CoinGecko.

At the time of writing, Bitcoin is trading at above $21,760.

Bitcoin price fell below $22,000

BTC/USD hourly chart on Binance exchange. Data: Trading View.

The price of Ethereum has rolled back from the $2,000 mark it reached on August 13 amid news of the completion of the transition of the Goerli test network to the Proof-of-Stake consensus algorithm.

Currently, the second largest cryptocurrency by capitalization is holding near $1,735, day 6%.

Bitcoin Price Drops Below $22,000

ETH/USD Hourly Chart on Binance Exchange. Data: Trading View.

Crypto assets from the top 10 by capitalization moved into the red zone after the flagships, with the exception of stablecoins. Cardano and Dogecoin show the biggest drop — 13.2% and 13.7% respectively.

Bitcoin price dropped below $22,000

Data: CoinGecko.

According to Coinglass, over the past 24 hours, positions in the futures market have been liquidated in the amount of $552 million. Of this amount, $203 million was in bitcoin, $140.8 million in Ethereum.

The total capitalization of the cryptocurrency market is slightly more than $1 trillion The BTC dominance index is 38.3%, ETH is 19.2%.

Earlier, the president of Euro Pacific Capital, Peter Schiff, doubted that digital gold would reach new highs. In his opinion, the first cryptocurrency is more likely to continue falling to $10,000 and below.

Recall that the head of Galaxy Digital, Mike Novogratz, predicted that Bitcoin will remain in the range of $20,000–$30,000. Merge, he noted.

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