Bitcoin Slumps to Lowest Monthly Level, ‘Could Get Ugly’ If $38,000 Point Breached

FILE - Representations of virtual currency Bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/

Bitcoin has fallen to its lowest level in about a month, with prices dropping to $38,580 on April 18 as investors remain risk-averse to the digital currency and uncertainties mount over demand for these coins.

After exceeding $68,500 in November 2021, Bitcoin prices fell below $33,500 in January 2022. Since Russia invaded Ukraine, the cryptocurrency has been trading in the $37,500 to $48,000 range. Bitcoin was priced at $39,196 as of 15:49 UTC (11:49 a.m. Eastern time) on April 18, a 42 percent decline from the November peak.