The Bitcoin exchange rate fell below 33000 for the first
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The Bitcoin exchange rate fell below $33,000 for the first time since the summer of 2021

The cost of the world’s most popular cryptocurrency continues to fall. Over the weekend, bitcoin price fell to $33,438 per coin and the situation did not improve with the start of the new week. Ultimately, the bitcoin price fell below $33,000 per unit, which was last seen in July of last year.

    Image source: Pixabay

Image source: Pixabay

According to available data, Bitcoin lost 4.6% in price during Monday’s trading and its price dropped to $32,800 per unit. Over time, the digital token managed to regain some of the lost positions, and as of this writing, around $32,925 per unit of cryptocurrency has been spent.

Note that after Bitcoin, many other cryptocurrencies have fallen in price over the past few days. According to the CoinDesk platform, over the past day, Ethereum price is down 5.08% to $2407, XPR is down 5.39% in price and is now worth around $0.54, and popular meme cryptocurrency is Dogecoin Down 6.01% in price to $0.12.

    Image source: Bloomberg

Image source: Bloomberg

The tightening of fiscal policies to combat rising inflation is pushing investors away from speculative assets and towards more stable sources of investment. According to experts, the downward trend in the exchange rate of Bitcoin and many other cryptocurrencies will continue in the coming days. Note that since the beginning of 2022, Bitcoin has lost a total of 29% in price.

About the author

Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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