Bitcoin below $40,000 and is back to square one

Less interest in Bitcoin than before. The result is a drop and a Bitcoin price that falls below $40,000.

There is currently no sign of an upward trend. It seemed like it for a while, but the firm confirmation never came. And what doesn’t go up comes down again. Such is the case here with Bitcoin’s price, which tumbled below $40,000 on Coindesk yesterday. It is the first time since the beginning of February that the price has returned to this level.

Since the turn of the year, Bitcoin has been in a certain range from which the currency does not seem to break out. December 2021 was the last time the most famous cryptocurrency in the world was trading at more than $50,000. Since then it has only gone the other way.

Bitcoin was somewhat stable through February 17. The snowball has started rolling down the last three days. That started with a price drop of about five percent. Today there is an additional drop. The Bitcoin price drops below the psychological limit of $ 40,000. It’s not quite as severe as the previous January low with a low of $33,000. But for now, things don’t look rosy for those hoping for an uptrend.