Bitcoin is on track for its worst monthly performance since November

The currency fell by 6% in May 2023

Published in: May 31, 2023: 01:43 PM GST
Last updated: May 31, 2023: 02:48 PM GST

coin approachingbitcoinFrom recording its worst monthly performance in May 2023 since the FTX platform bankruptcy crisis in November last year.

Bitcoin fell by 6% in May 2023, in the first monthly decline recorded by the currency since the beginning of this year, after it rose by 84% from its bottom recorded at the end of last year.

The negative news after the bankruptcy of several US banks and fears of the US debt ceiling, in addition to the possibility of the Federal Reserve raising interest rates, all mitigated the severity of the recent increases, which affected the appetite of investors in high-risk assets.

2023-05-31 09:43:00

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