The cryptocurrency bitcoin is falling for the fourth trading day in a row and is now at its lowest exchange rate against the dollar since February this year. From its historical peak in March at $73,798 per bitcoin, the cryptocurrency has now lost about a quarter of its value.
At most, bitcoin fell by 8 percent to $53,602 in Friday's trading. However, the volatile cryptocurrency recovered somewhat from its low point and was trading around $55,200 at 3 pm – a decline of just over 5 percent.
Other cryptocurrencies are also being dragged down.
Several factors are contributing to the decline in price, according to the news agency Bloomberg. This includes the effects of an expected high US interest rate for a long time, combined with significant political uncertainty.
In addition, there are concerns about the impact on the market when the collapsed cryptocurrency exchange Mt Gox returns cryptocurrency assets worth around $8 billion.
Reports also suggest that German authorities are preparing to sell around 50,000 bitcoins (worth approximately $2.8 billion) seized from criminal actors on the internet.
