Bitcoin (BTC) had a tough start to the year, and has fallen below $ 40,000 for the first time since August 2021.
Bitcoin fell 4.2% in the past day, roughly $ 39,866.71; it has reunited a short time ago to break above the important $ 40,000 symbolic level.
Bitcoin has fallen about 14% in total since January 1, 2022. Since reaching a record high of $ 69,000 in November last year, the core currency has fallen significantly by 41%.
Meanwhile, the price of Ethereum (ETH) broke below $ 3,000 on Monday, reaching levels not seen since September last year.
The Ehereum has lost 4.8% of its value in the past 24 hours, and up 21.5% during the week, according to CoinGecko. Ethereum dropped to $ 2,950. Two months ago, on November 10, Ethereum reached a record high of $ 4,878; since then ETH has lost 38% of its value.
The IS bear take bitcoin
There are a number of reasons that bitcoin 2022 may have started on the wrong foot, from the unrest in Kazakhstan and the controversial Crypto.com announcements to the decisions of the US Federal Reserve.
We may only have a few weeks into the new year, but bitcoin and Ethereum already face many problems.
The bear market is dominating the market