OREANDA-NEWS. The cost of the most popular cryptocurrency - bitcoin - on Thursday drops by more than 20% and for the first time since May 2019 fell below $ 6 thousand, according to trading data.

According to the CoinMarketCap portal, which calculates the average price of more than 20 exchanges, as of September 14, Moscow time, bitcoin is getting 21.63% cheaper, to $ 6139. At the largest cryptocurrency trading volume Binance, bitcoin drops by 17.94% to $ 6418. Minutes earlier, the drop exceeded 20%, the price of cryptocurrency for the first time since May 9, 2019 fell below the mark of 6 thousand dollars and reached 5.55 thousand dollars on Binance.

As independent expert Mansur Huseynov explained to the Russian media, the fall in the value of cryptocurrency is associated with the liquidation of positions by investors.

“Obviously forced liquidation of positions on exchanges. The sharp movements in cryptocurrency rates coincided with movements in the stock market - all global indices are falling very much, and cryptocurrencies were no exception".“As I said earlier, institutional investors are present on the market and they are considering cryptocurrencies as a risky asset and exit it when such assets fall. Now globally, all flows go to dollars, American and European securities, respectively, this is the way out", he said.