Bitcoin sets an anti-record for the first time since December 2020

The value of the flagship cryptocurrency fell by 5.5% - in just one day, bitcoin dropped below $ 19,000. At the time of writing, BTC is trading for $ 18,776, according to CoinMarketCap.

Apparently, the day of September 6−7, 2022, was the worst for bitcoin’s value, with $ 18,776 being the lowest daily close since December 2020. Along with BTC, the price of most digital assets fell, and the total market capitalization dropped below $ 1 trillion. According to CoinMarketCap, at the time of writing, it is about $ 935 billion.

Users on Twitter are concerned about such a sharp drop in the value of cryptocurrencies, and some are even saying goodbye to digital assets. «Goodbye, bitcoin, it was interesting,» wrote one member of the cryptocurrency community in a comment to the news of the BTC price collapse.

As a reminder, in early September, cryptocurrency analysts suggested that the high unemployment rate in the United States could cause the flagship cryptocurrency to drop to $ 15,000. The disappointingly high unemployment rate indicates that the Federal Reserve will raise interest rates even further. According to analysts, this state of affairs could mean a significant drop in the value of digital assets.

Also on September 13, the US promised to publish new data on the Consumer Price Index (CPI). This information can have a significant impact on the state of the cryptocurrency market — the last time the CPI data was much higher than public expectations. Thus, on July 13, inflation in the United States amounted to 9.1% and became the highest in 40 years, which caused BTC to fall below $ 19,000. In addition to BTC, altcoins also fell, including ETH, which risked falling below $ 1000.