Bitcoin hits lowest level since July 2021

Bitcoin fell during the trading session on Saturday to $34,161, according to Coindesk data.

The last time the cryptocurrency traded at this level was in July 2021.

Earlier, the founder of Quantum Fintech Group, Harry Yee, said that the price of bitcoin could rise to $400,000 this year, or nearly 900%.

In his opinion, the cryptocurrency market may grow due to the massive use of stablecoins – digital currencies, the price of which is linked to some kind of tangible asset.

Investors will use bitcoin to hedge against inflation as the US Federal Reserve, according to Yeh, will continue to issue funds.