India, June 13 Bitcoin’s price fell sharply to around $25,600 on Monday, an 18-month low, as the crypto winter hit cryptocurrencies.<\/p>\n\n\n\n
A spike in global inflation, especially in the US, contributed to a further loss of 7 per cent in the world’s largest cryptocurrency.<\/p>\n\n\n\n
Since November 2021, Bitcoin (BTC) has fallen more than 60 per cent from its all-time high of over $68,000.<\/p>\n\n\n\n
The price of Bitcoin could reach a grim $14,000 this year at this rate, according to analysts.In a recent Twitter thread, Venturefounder, a contributor to the on-chain analytics platform CryptoQuant, predicted that Bitcoin would “capitulate” in 2022.<\/p>\n\n\n\n
“BTC will capitulate in the next 670 days and hit cycle bottom within the next 6 months ($14-21k), then chop around $28-40k in most of 2023 and be at *$40k again by the next halving,” the tweet read.<\/p>\n\n\n\n
The likely bottom range of $14,000 would represent a drop of 80 percent for Bitcoin from its all-time high of $68,000.<\/p>\n\n\n\n
Bitcoin’s second largest cryptocurrency, Ethereum (ETH), has also fallen significantly.<\/p>\n\n\n\n
Over the weekend, ETH’s price fell below its 2018 peak, sending the second-largest digital asset lower.<\/p>\n\n\n\n
ETH market has fallen below the ‘ETH Realized Price’ of $1,781 according to blockchain analytics provider Glassnode.<\/p>\n\n\n\n
Cryptocurrency prices plunged by over 40 percent to $1,355 on Monday, resulting in unrealised losses of over 40 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
India, June 13 Bitcoin’s price fell sharply to around $25,600 on Monday, an 18-month low, as the crypto winter hit cryptocurrencies. A spike in global inflation, especially in the US, contributed to a further loss of 7 per cent in the world’s largest cryptocurrency. Since November 2021, Bitcoin (BTC) has fallen more than 60 per […]<\/p>\n","protected":false},"author":1,"featured_media":86876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[329,330],"class_list":["post-86875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-bitcoin","tag-eherium"],"_links":{"self":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/comments?post=86875"}],"version-history":[{"count":1,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86875\/revisions"}],"predecessor-version":[{"id":86877,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/posts\/86875\/revisions\/86877"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/media\/86876"}],"wp:attachment":[{"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/media?parent=86875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/categories?post=86875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dailypunjabtimes.com\/english\/wp-json\/wp\/v2\/tags?post=86875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}