The cost of bitcoin has fallen by 13% since the beginning of April

by in Cryptocurrency News

Bitcoin

In April 2022, the capitalization of bitcoin decreased by about 13% to $762.989 billion. The BTC rate on Tuesday, April 12, fell below $40,000 for the first time since March 16.

The coin quickly bounced back, and already during the European session, it bounced to $40,179. Ether (ETH) and Binance Coin (BNB) fell by 4.6% and 2.16% to $3,024 and $407, respectively.

The biggest losses were Solana (SOL) and Cardano (ADA), these altcoins lost more than 6% in value and fell to $103.24 and $0.952. The capitalization of the crypto market has decreased to $1.858 trillion.

Earlier this week, BitMEX co-founder Arthur Hayes published an article on his blog in which he did not rule out a larger Bitcoin pullback. Moreover, along with the largest digital currency, other coins will inevitably suffer losses, the expert predicts.

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Hayes believes that already in the current cycle, Bitcoin and Ethereum are threatened with a fall to $30,000 and $2,500, respectively.

So far, BTC is trading just above $40,000, but the pressure continues to intensify. In the coming hours, the coin may again fall below this psychological mark. The nearest support zone is $37,582.

In the event of aggressive sales in the spot market, the price of bitcoin could collapse to $26,000, Bloomberg analysts predict.