The Bitcoin Exchange Rate Fell below $40 Thousand for the First Time since the Beginning of August.
OREANDA-NEWS. The cost of the first cryptocurrency updated the local minimum, after which it returned to around $42 thousand.
On the night of September 22, the bitcoin exchange rate set a new low since August 5 at $39.6 thousand. As of 9: 30 Moscow time, the first cryptocurrency is trading at the level of $42.1 thousand, over the past day it has fallen by 2%. The market capitalization of the asset decreased to $790 billion with trading volumes of $42 billion in 24 hours, according to CoinGecko.
Following bitcoin, altcoins have also fallen in price over the past day. For example, the price of Ethereum decreased by 5%, to $2.8 thousand. The Solana exchange rate fell by 7%, to $129, and the cost of Polkadot-by 6%, to $27. The overall valuation of the cryptocurrency market fell by 2%, to $1.9 trillion.
The share of bitcoin in the crypto market has again exceeded 41%, although a few days ago it was 39%. The share of Ethereum is now at the level of 17.5%.
Earlier, the CEO of Euro Pacific Capital and cryptocurrency critic Peter Schiff expressed the opinion that altcoin prices will collapse after the cryptocurrency bubble bursts. Schiff recalled that at the moment there are more than 12 thousand tokens, 84 of which have a market capitalization of more than $1 billion. After the supply of tokens exceeds the demand, altcoins will become worthless, Schiff is sure.