Is Bitcoin Dropping?

Economic News
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Is Bitcoin Dropping?

For a second straight day the dollar index continues to decline; the stock market yesterday tried to move away from last week's losses of nearly 2 trillion dollars and shares rose in price. However, within days of trading it still looked very risky due to high volatility.

The dollar's weakness was probably caused by the publication of a report by the Ministry of Finance which indicated a reduction in the amount of tax revenue and the expectation of a faster growth of the state budget.

Oil prices continue to decline and the quotes for WTI fell below the psychological level of $60 a barrel yesterday after the publication of data on the extraction of shale oil in the US from the seven largest companies.

In the market for cryptocurrencies there is a delicate balance, but recently Bitcoin reached a height of $20,000 showed a strong correction, and Mike McGlone from the analytical agency Bloomberg Intelligence said there is a high probability that the rate may soon go down and reach the level of $900. It is possible that the boom in Bitcoin has already passed since every day there are many new tokens, and now Bitcoin is not a monopoly, so the price of Bitcoin can be fixed near the level of early 2017.

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