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During the day, the cryptocurrency fell by almost 4%, and its capitalization decreased to $ 909 billion
The price of bitcoin on the Binance crypto exchange dropped to $ 47.7 thousand.Over the day, the cryptocurrency fell by 4%, and its capitalization dropped to $ 909 billion, according to CoinGecko. Last week, the value of bitcoin rose above $ 50 thousand after the publication of reports on a record rise in consumer inflation in the United States over the past almost 40 years.
On December 4, the value of the asset for the first time since the end of September fell to $ 42 thousand. A sharp drop in quotations provoked a massive liquidation of traders’ positions worth more than $ 2.5 billion. On November 10, Bitcoin set a historical maximum above $ 69 thousand.Since that moment, the asset has fallen in price by 30%.
Earlier this month, Galaxy Digital CEO Mike Novogratz said that the price of bitcoin as part of the current correction will not fall below $ 40 thousand. According to Novogratz, the $ 42 thousand mark is the lower level of the corrective decline.
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