Bitcoin drops to less than $ 50k for the first time since March

Bitcoin price fell below $ 50,000 for the first time in almost two months. The value is the lowest since the 5th of March.

At the time of production of this article, the cryptocurrency is traded for US $ 49.77 a unit – a drop of 8.40% in 24 hours and 18.24% in the last week.

The week for bitcoin was no longer very good with a historic downturn in the sector. In addition, the President of the United States, Joe Biden, said that he will propose a tax increase for wealthy Americans and large corporations, which has raised rumors that a regulation of cryptocurrencies is underway.

The J.P. Morgan bank was concerned: according to the institution, the digital currency may collapse once and for all if it does not return to a less unstable level above US $ 60 thousand.

More falls

This is not the only drop suffered by cryptocurrency: on Thursday (22), it saw its dominance also drop below 50% for the first time since 2018.

This means that the market value of bitcoin is no longer responsible for more than half of the capitalization of the main cryptocurrencies combined.

According to CoinMarketCap, the value reached 49.5% and some of the main culprits for this are Ethereum, which is rising especially by the NFT sector, and Dogecoin, which is one of the most valued today. Still, all of them also depreciated to different intensities in the past week.

0

LEAVE A REPLY

Please enter your comment!
Please enter your name here