Bitcoin hits lowest level since late 2020

Just a few months after reaching historic prices, this cryptocurrency is collapsing, in a context where investors are risk averse.

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The roller coaster continues. Bitcoin plunged on Monday, June 13, to its lowest level since December 2020, in a context of stock market decline and a rush towards the dollar, a safe haven. This cryptocurrency saw its price drop by more than 10% to 24,580 dollars around 10:40 a.m., unheard of in 18 months, marking a decline of more than 65% since the all-time high of November 2021.

In 2021, this still nascent sector had attracted more and more traditional finance players, whose risk appetite was fueled by the very flexible policies of central banks around the world. But the rate hike by the US Federal Reserve (FED), which is trying to combat runaway inflation, is weighing on the markets.

In addition, the decline of bitcoin has accelerated “after Celsius platform ‘suspended’ withdrawals”, comments Mark Haefele, analyst at UBS. This company, valued at 12 billion dollars, offered its users in particular to place their “historic” cryptocurrencies, such as bitcoin and ether, to invest in new cryptocurrencies.

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