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Bitcoin extended its decline beneath $30,000 on Monday as the total crypto market value dipped by 2% to just over $1.2 trillion.

The entrepreneur and author of the bestselling book Rich Dad Poor Dad urged investors to invest in bitcoin, as soon the BRICS countries' own currency will put pressure on the US dollar. Robert Kiyosaki has repeatedly warned about the imminent collapse of the dollar and the entire American economy, calling for investing in gold and bitcoin. 

After accelerating to a new yearly high of $31,415 on Friday, BTC corrected slightly over the weekend and remains under pressure on Monday morning as the cryptocurrency hit a recent low of $30,020.

The price of bitcoin has risen to $28,000 after trading below this mark for the majority of May.

According to analysts, the Bitcoin price rally may be just beginning. On Sunday, the price of bitcoin was $29,000, several pips below the important $30,000 resistance point and slightly below the all-year high of $31,000, writes Invezz.

After a bearish start to the week on Monday, bitcoin bounced back on Tuesday, but on Wednesday, sellers regained control of the cryptocurrency, and it dropped to a low of $28,645, while trading at about $30,400 earlier in the day.

The rate of the first cryptocurrency continues to grow - on the morning of April 11, the indicator exceeded $30,000, which was the maximum over the past 10 months.

Renowned venture investor Tim Draper reiterated his bold prediction that the first cryptocurrency would hit $250,000.

A new recalculation of the complexity of bitcoin mining showed a new record - the figure increased by 7.56% and reached 46.84 trillion hashes.

The American stock exchange CME announced the launch of event-based futures contracts for bitcoin. In addition, the panic about American banks has subsided, so the BTC price has risen by 10%.