Bitcoin price drops below $64,000

//

Lerato Khumalo

The value of the global cryptocurrency market, including Bitcoin, decreased by 4.2 percent in 24 hours, falling to $2 trillion 290 billion.

Analysts say rising tensions in the Middle East following attacks in Beirut and Tehran have caused investors to sell risky assets such as cryptocurrencies.

It is noted that the steps to be taken in the short term by the US Federal Reserve (Fed), which kept the policy rate constant at 5.25-5.50 percent, the highest level in 23 years, yesterday, will also affect the course of the cryptocurrency market.

As of 18:15, Bitcoin, which has experienced a decrease of nearly 4.3 percent in price in the last 24 hours, fell to the level of $ 63,540.

Ethereum, which ranks second in terms of market value, also lost 5.5 percent in the last 24 hours, falling to the level of $3,130.