Bitcoin fell during the session on Monday, August 5, by about 10% to levels of $53,000, in light of investors’ fear and their avoidance of high-risk assets.
Despite the positive atmosphere prevailing in the cryptocurrency markets with the increasing expectations of the victory of Trump, a supporter of this type of asset, and his statements regarding the United States not selling any Bitcoin, fears of a possible recession in the US economy caused the cryptocurrency to lose gains last week after it touched $70,000 levels.
The sell-off in the cryptocurrency market coincided with a sharp drop in indices in Asia, as Japan's Nikkei stock index plunged by about 9% due to heavy selling sparked by fears that the US economy may be in worse shape than expected, and recorded its worst daily performance since October 1987.
The US Federal Bureau of Investigation had previously issued a stern warning about cryptocurrencies due to fraudsters' attempts to steal customers' money.
