Bitcoin Fall Below $40,000

By the end of the day on September 21, for the first time in six weeks, the price of Bitcoin fell below $40,000.

At first, Bitcoin showed positive trends. Since hitting the $29,300 level on July 20, BTC has surged more than 80% and then rallied to the highs reached in early September.

But towards the end of the day, September 21, BTC prices declined 16% from nearly $47,300 recorded in the morning to $39,650 recorded at around 9 pm UTC. Thus, the Bitcoin rate fell by 25% from the local maximum of over $50,000, reached on September 7.

It wasn’t just Bitcoin that plummeted from the peaks on September 21st. On that day, in addition to the first cryptocurrency, according to CoinGecko, 29 of the 30 largest crypto assets by market cap experienced a 24-hour drawdown.

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