The price of the bitcoin fell during the Asian trading session by about 4 percent to 49,255 dollars (43,490 euros). Ether, the world’s second-largest crypto currency, also lost ground and was worth less than $4,000. Data from CoinGecko, which tracks the digital coin market, shows that the total value of all cryptos has fallen 2.7 percent in the past 24 hours to $2.45 trillion, or $2160 billion.
According to vice president Vijay Ayyar of crypto exchange Luno in Singapore, the fall in bitcoin price is “not alarming at the moment.” According to him, the outlook for the cryptocurrency will remain positive as long as the price level of $ 48,000 to $ 49,000 remains.
Bitcoin touched a record level of approximately $69,000 in November, but after the discovery of the omikron variant, the value fell sharply. The fear that the phasing out of support measures by the central banks could cause problems for risky investments such as digital currencies also caused price pressure. Possible tighter US tax regulations for cryptos and China’s crackdown on the crypto sector also put pressure on crypto prices.
Bitcoin price drops below $50,000 again | Financial
Source link Bitcoin price drops below $50,000 again | Financial