đšđȘ BITCOIN: "investors in panic".
đBitcoin (BTC), the most widely used cryptocurrency on the market, fell by a percentage (%) this Wednesday and traded below $57,000 (USD), on a day in which fears of a slowdown in the US economy have been renewed.
đThis month of August was recorded as the 2nd worst month in the year 2024. So far this year, Bitcoin closed August with a drop of 8.9%.
đȘŹThe Firms and Analysts of (eToro) explained this week that there are latent risks for cryptocurrencies, such as a possible resection, geopolitical conflicts or significant corrections in traditional markets.
đ Today's fall of Bitcoin coincides with a bad session on Wall Street in the US, where fear of an excessive slowdown in the US market was awakened again after learning of data from the hand-invoicing sector that contracted for the fifth consecutive month. Likewise, Wall Street, and above all, its technological index (Nasdaq) and other investors lost more than 3% of their capital due to the collapse.
đ The negative trend of the US market has moved to Asia and Europe among other nations with other conflicts. But despite the fall of BITCOIN this Wednesday, the same experts assure that although the previously affected factors could temporarily impact the Crypto market "in the long term", liquidity conditions and monetary policy could favor a new bullish cycle.
