The price of Bitcoin, the leading cryptocurrency, has fallen below $80,000 again after ten days. Bitcoin has recorded its lowest price since mid-November.
As of 7:30 a.m. on the 11th, Bitcoin is trading at $79,316, down 2.28% from 24 hours ago, according to global coin market tracking site CoinMarketCap. The $80,000 level has collapsed again after ten days since February 28.
At the same time, Ethereum has recorded a drop of 7.54% to $1,874. Ripple is trading at $2.04, down 5.14%, and Solana is at $118, down 7.11%.
Local experts in the United States attribute the decline of Bitcoin to the U.S.-China tariff war, sluggishness in the U.S. stock market, and a decrease in institutional investor demand. The drop in the New York stock market is also cited as a cause. Recently, the technology-focused Nasdaq index significantly fell, leading to a cooling in the preference for risky assets.
The price of Bitcoin soared above $100,000 following the election of President Donald Trump, who has shown a friendly attitude toward virtual assets. On January 20, the day Trump was inaugurated, it even exceeded $109,000.