The price of the digital currency “Bitcoin” lost more than 1.5% during Monday’s trading, on its way to incurring its first loss in the last four days, to move away from the highest level in a week, due to corrections and profit taking, to fail again to approach the $20,000 barrier.
This decline comes due to the recovery of US dollar levels, and the reluctance of investors once again for high-risk assets, pending important economic data in the United States on industrial and service activities during the current month.
Bitcoin price today
On the “Bitstamp” exchange, the digital currency “Bitcoin” decreased by about $315, or 1.6%, to $19,261, and the opening price for today’s trading was at $19,576, and recorded the highest level at $19,588.
When prices settled on the Bitstamp exchange on Sunday, bitcoin prices rose by 1.9%, the third consecutive daily gain, and recorded a one-week high of $19,689, thanks to an improvement in risk appetite.
The market capitalization of cryptocurrencies fell on Monday by about $11 billion to a total of $928 billion, in light of the current decline in the prices of Bitcoin, Ethereum and other major currencies.
U.S. dollar
On Monday, the dollar index rose 0.6%, rebounding strongly from the lowest level in three weeks at 111.47 points, reflecting a strong recovery in the levels of the US currency against a basket of global currencies.
Investors still believe that the US dollar is the best investment available, and that the Federal Reserve will continue to raise the federal funds interest rates at a significant pace, in order to control historical inflation in the United States.
This recovery in dollar levels comes before the release of important data on the major sectors constituting the US economy during October, which provide strong evidence about the health of the largest economy in the world during the fourth quarter of this year.