The prices of cryptocurrencies have witnessed a remarkable decline during the past 24 hours, as the value of Bitcoin decreased to its lowest levels since mid -November, in light of a wave of negative factors that affected the market.
According to the German News Agency (DPA), dealers in the encrypted currency markets have become more reluctant in risk, especially with the absence of any concrete steps to implement the pledge of US President Donald Trump to form an American strategic reserve of bitcoin.
Besides, the recent cryptocurrencies scandals, which included Trump and Libera, have destroyed investor confidence, while the huge security penetration that Bordet Exchange was exposed to exacerbated the crisis. In light of these developments, cryptocurrencies have lost more of their value, with the uncertainty in the markets continuing.
The fluctuations were not limited to the digital market, but also increased economic pressures, the remarkable decline in the index of service managers in the United States, which prompted investors to search for safe havens, which was reflected in the power of the Japanese yen.
Caution also prevailed over the markets before announcing the results of the business company, Invidia, which is one of the important indicators for the performance of the technology sector, as well as the recent economic data, including inflation reports in the United States.
According to the weekly evaluation report of the Queen Cherers, the week, ending the week on February 21, witnessed net external flows of $ 508 million in digital asset investments, compared to $ 415 million in the previous week, which reflects the high level of anxiety among investors. This trend is due to the ambiguity surrounding the policies of customs definitions and monetary policy trends, which prompted many investors to liquidate their positions in the digital currency market.
In light of these developments, Bitcoin continued its losses to record a decrease of 7.6% in just 24 hours, after it had declined by 8.5% during the past week. With this decline, the digital currency reached the level of $ 87,630.60 per unit, which represents a decrease of approximately 20% compared to its highest historical levels.
