Bitcoin Lost 8% of its Value Last Month

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Bitcoin experienced a loss of 8% in May, marking a decrease of 64% from the beginning of the year.

This downward trend was spurred by the US banking crisis of March and a Federal Reserve rate hike.

According to Bloomberg analysts, even a rise in the Bitcoin network’s targeted activity failed to positively impact its value in comparison to other popular investing methods – shares of companies related to artificial intelligence increasing 10%, stocks, bonds, and even gold outperforming the cryptocurrency.

On June 1st, BTC rose to $27,101 with a capitalization of $525.609 billion.

Meanwhile, Ethereum (ETH) is plummeting, dropping below $1900 and potentially reaching the floor of $1800 in the near future.