In September last year, the average Bitcoin price was $45,965. Three times, it even surpassed $50K.
The company closed on September 4, 2021, at $50,000. September 5, at $51,692, September 6, at $52,644.49. September 6, at $52,644.49.
However, the biggest cryptocurrency in terms of market capitalization continues to have trouble reproducing that type of run. It is currently struggling to even hold the $20K range.
According to data from, BTC trades at $18,802 as of the time this article was written. CoinGecko. On Tuesday it slightly rose to $23,300 and then fell back to $19K.
Bitcoin lost 0.4% over the last 7 days but has since lost 4.4% during the 30 day period. Its current trading price, however, is 55.5% less than it was one year ago.
Bitcoin price continues to struggle
Between May and June 2018, the crypto market experienced a significant crash, with its total value falling by $2 trillion.
Bitcoin suffered greatly from that event and has traded between $18,000 to $25,000.
The digital asset’s price is not the only thing that is struggling as its stocks retreated into bearish direction, dipping by 1% at $19,078.
The main driver behind the turmoil in the crypto space over the past few months is inflation. This has happened because central banks lean on higher interest rates to address the economic problem.
The crypto industry also witnessed notable bankruptcies and insolvency issues that also impacted the digital assets’ attempt at a bullish run.
Bitcoin to Fall below $18K Once More
Experts believe crypto’s popularity will drop if certain circumstances occur.
According to some reports, if the U.S. Federal Reserve sees an inflation rate increase of between 9.5% and 10.0%, it might call for an emergency meeting to talk about another round in interest rate increases.
If this happens, leveraged participants in the crypto markets will once again be affected in a negative way and that could lead to Bitcoin’s price plummeting below $18,000.
BTC fell to an all-time low of $1.18 on June 18, 2022 due to negative effects from the bankruptcy proceedings at Three Arrows Capital, Celsius and Celsius.
Source: TradingView.com| Source: TradingView.com Featured image by Fox Business. Chart: TradingView.com