Bitcoin, the most popular cryptocurrency in the world, has dropped significantly and hit its lowest price in two months. Ether, the second-most valuable cryptocurrency, saw a comparable decline in value.
For the first time in almost two months, Bitcoin momentarily fell below $20,000 on March 10 and reached a low of $19,918.
Yet, the hawkish posture of the Federal Reserve has had an impact on the cryptocurrency market, suggesting that the next interest rate hike will be higher than anticipated, creating uncertainty among traders and investors.
The cryptocurrency market has further declined as a result of recent government crackdowns, making it challenging for the industry to grow.
Today’s Bitcoin Price
| DATE | BTC | USD |
|---|---|---|
| Today | 01 | $ 20,050.14 |
Bitcoin Price Prediction
The current Bitcoin price is $19,969, with a $36 billion 24-hour trading volume. Bitcoin has decreased 8.16% in the last day. With a $385 billion live market cap, it is currently ranked first on CoinMarketCap.
When trading below $21,000, bitcoin encounters resistance at $20,400, with significant barrier located close to $22,000. A positive momentum towards $23,000 may be sparked by a close above $22,600.
If $21,000 is not reached, it may drop to $19,800 or possibly $18,400.
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