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Bitcoin loses more than 13%

Bitcoin fell today to a one-and-a-half week low, losing more than 13% for the first time since it recorded the highest increase ever, but it is still heading towards achieving its best monthly performance since February 2021.

Bitcoin, the world’s largest cryptocurrency, fell 3.7 percent to $58,100, its lowest level since October 15, 2021.

The currency has lost 13 percent since it climbed to an all-time high on Tuesday, recording $67,016.

The losses were due to profit taking after the recent rally, said Tony Sycamore, an analyst at Australian investment platform City Index.

The digital currency has risen by about 35 percent this month, and if it maintains this performance, it will be the best in eight months.

Source: Reuters

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