The cost of bitcoin dropped to $18.7 thousand per coin. Over the past day, the rate of the most popular cryptocurrency has decreased by 7.4%, according to trading data.

The last time the bitcoin rate fell to this level was on September 22. The day before, on the 27th, the cryptocurrency was trading at the level at the moment reaching $20.3 thousand for the first time since September 14th.

According to the analytical center CoinGecko, the total capitalization of bitcoin is $358 billion with daily trading volumes of $47.5 billion. At the same time, the share of the asset in the market reached 37.7%.

Bitcoin has continued to trade in a relatively tight range since mid-June 2022. During this time, the price of the cryptocurrency reached the lower level of $17.6 thousand and rose at the peak to $25.2 thousand.

On September 27, Bloomberg reported the beginning of the confrontation between the dollar and cryptocurrencies for the title of the most profitable asset in the third quarter of 2022. The MVIS CryptoCompare Digital Assets 100 Index is up 7.3% since the end of June. At the same time, the dollar rose by the same amount over the same period.

The situation is influenced by the fact that the market is still experiencing shocks that occurred due to the tightening of the monetary policy of the world’s leading central banks and the US Federal Reserve System (FRS). All this will help strengthen the position of the dollar and cryptocurrencies among investors and traders.