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  • 31 OCTOBER 2024
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Bitcoin hovers near lowest level in two months

The Bitcoin cryptocurrency touched $57,462 today in London, after falling about 4% in the last two days and retreating 16% in April this year, trading near its lowest level in the last two months.

Bitcoin hovers near lowest level in two months
Notícias ao Minuto

13:37 - 02/05/24 por Lusa

Economia Bitcoin

The cryptocurrency’s fall is piquing the interest of investors who see the digital token’s wild swings as a possible harbinger of greater risk appetite in global markets, Bloomberg News reported.

However, as of 12:59 p.m. in Lisbon, Bitcoin had recovered and was trading at $58,480.29.

The token has lost value in recent weeks and has been highly volatile.

In a statement, Charlie Morris, chief investment officer at ByteTree Asset Management, said Bitcoin is currently acting as “a canary in the coal mine for broader financial markets,” and that the cryptocurrency “will surely recover at some point.”

The largest digital asset hit a record high of almost $74,000 in mid-March of this year.

Read Also: Bitcoin Hits New High After Surpassing $73,600 (Portuguese version)

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