Bitcoin’s price collapsed by 10 percent during the trading on September 20, as investors try to reduce risks against the background of a common recession on the stock market, CNBC writes. According to Coin Metrics, at the time of writing news the cost of the tokeny fell by 7.5 percent, up to 44 thousand dollars.
Although the token is considered a safe attachment, its value has a tendency to decline along with the price of all risky assets. The wider cryptocurrency market is also in the minus – Ethereum fell by 8.5 percent, to $ 3.070.83. “This sale is a continuation of a well-established model when traders cash risky assets to fulfill the requirements for replenishing the [Broker requirements due to the risk of losses] or are sitting aside until the markets calm down, and they will not feel more comfortable on risky positions again, – Commented on Valkyrie Investments Lia Wald. – If Bitcoin someday could establish itself as safe asylum or digital gold, (…) it seems, now is the time. “
World stock markets are falling, as investors fear the consequences of the real estate crisis in China caused by the large debt of the developer Evergrande. Investors are also wary of the further decisions of the US Federal Reserve, which recently announced the collapse of the economy stimulation program.
At that time, the price of the most popular token decreased, his more reliable “rival”, gold, went up – futures rose by 0.8 percent. Earlier in September, the cost of Bitcoin exceeded 50 thousand dollars.