Bitcoin fell by more than 6% after it rose to a record high of $ 58,354 the previous day, as selling in global stocks impeded the demand for Risk.
and according to Arabnet, Bitcoin was released after selling in global stocks hampered risk appetite.
And the world's most popular cryptocurrency rose over the weekend to record levels, nearly doubling in value since the start of the year. Its market value reached a trillion dollars, Friday.
And the competing cryptocurrency Ethereum fell 7% to 1798 dollars. Bitcoin was trading at $ 54,000 by 1011 GMT.
And Bitcoin rose to $ 58,350 on Sunday, before retreating to about $ 56,200 as of 2:30 pm. In Tokyo on Monday, after a three-month consecutive rally, the price almost tripled, however JP Morgan strategist Nikolaos Banegertzoglu confirms that there is a threat from the liquidity side.
Panigertzoglu wrote in a note on Friday: Bitcoin's market liquidity is currently much lower than that of gold or the SP 500 index, which means that even small flows can have a significant impact on prices.
The lack of liquidity opens up more room for sharp fluctuations in the digital currency, up and down, depending on the prevailing enthusiasm for digital assets, and the recent tweet of Tesla CEO, Elon Musk, may clearly express that the biggest supporters are surprised by the current levels of Bitcoin, as Musk said that Bitcoin prices appear to be high , Having previously described it as a less stupid version of criticism.
Panigertzoglu writes that Bitcoin trading volumes are around $ 10 billion per day for the futures market, compared to a figure equivalent to $ 100 billion for gold, according to Bloomberg and seen by Al Arabiya.net.
Cryptocurrencies have enjoyed a strong start to the year, leaving other assets behind.
Bitfinex chief technology officer Paolo Arduino wrote in an email: Bitcoin appears impregnable to the barrage of fear, uncertainty and suspicion being waged against the industry.
Shares of cryptocurrency platforms advanced in Asia on Monday, following an all-time high for Bitcoin. Japan's Monex Group was one of the biggest risers, jumping by as much as 16%.
Ethereum, the largest token after Bitcoin, surged over the weekend, topping $ 2,000 for the first time on Saturday, and is up 150% since the start of the year.
