The main coin has continued weakening over the past few days. As early as August 9, cryptocurrency was preparing to break the line of $13,000, which many experts called fundamental for reaching bullish trends. On August 12, at the beginning of trading, the coin underwent a correction, due to which its capitalization decreased to $194 billion.
According to one opinion, the correction of bitcoin can last more than 5 months, as evidenced by the direct impact of the drop in value on capitalization. This means that amid a bearish trend, cryptocurrency investments have also begun to slow down. If the trend continues, the main coin may drop to a new low over the past two years.
The main reason for the fall of bitcoin, many experts call the stabilization of the situation in the global financial market. The US dollar began to gradually strengthen, reducing volatility to a minimum. Because of this, investors are switching to familiar fiat investments, which affects the entire cryptocurrency market.
The total value of the digital money market at the moment is $280 billion, over the past 24 hours the industry has lost $15 billion, and on August 10 its capitalization exceeded $300 billion.