Here is all you need to know about Bitcoins massive price fall

Bitcoin fell below $30,000 last month for the first time since July 2021, as cryptocurrencies tracked falling markets as investors were frightened by aggressive US monetary tightening and rising inflation.

The largest cryptocurrency by market capitalization plummeted as low as $29,764 per day before regaining above $30,000, extending a recent price decline as investors abandon risky assets.

Bitcoin's value has decreased by more than half since November, when it reached a record high of about $69,000. While crypto enthusiasts perceive bitcoin as a hedge against inflation, a growing number of conventional investors view it as a riskier asset.