Cryptocurrency experts tell how much bitcoin has fallen in a month

At the beginning of last month, the flagship cryptocurrency’s rate reached more than $ 22,000, but on September 18, it dropped to $ 18,454. At the end of the month, digital gold settled at $ 19,431.

According to the CoinGlass analytical platform, the total loss of BTC in September amounted to almost 3.5% of its value. Thus, September was a bad month for BTC for the sixth year in a row. Bitcoin also started October in the «red zone» — on Monday night, the cryptocurrency fell to $ 19,156.

It is worth noting that the coin suffered the largest value losses in 2019, when its value fell by 13.38% in September. Nevertheless, October 2019 ended with the strengthening of BTC. And last year, the market capitalization of the largest digital currency soared by almost 40%.

As of yesterday, the value of BTC continued to fall amid a global decline in market capitalization. on October 2, bitcoin was trading at $ 19,125. At the time of writing, the flagship cryptocurrency is worth $ 19,145, and its market capitalization is $ 366.97 billion.

However, there are optimists who predict that bitcoin will grow hundreds of times. Thus, according to the forecasts of Robert Breedlove, CEO and founder of the cryptocurrency investment company Parallax Digital, the flagship cryptocurrency will be trading at $ 12.5 million by 2031. According to Breedlove, this value will be achieved due to the fall of the dollar. However, it is worth noting that $ 12.5 million in 2031 will be equal to only $ 1 million now, given the hyperinflation predicted by Breedlove.