Bitcoin fell below $30,000. Statements from China continue to harm cryptocurrencies. Bitcoin fell below $30,000 for the first time since January.
Cryptocurrency markets are in chaos. Bitcoin, which broke a record high in just a few weeks and reached $ 64 thousand, lost more than half of its value with a sudden collapse. This situation, which started with some statements from Elon Musk and China, negatively affected other currencies.
However, the decline never ends. Bitcoin, which has been going between $ 36 and $ 40 thousand for a while, declined to $ 32 thousand with statements from China. Just when you were saying how much more it will fall, now months later it has dropped below 30 thousand dollars.
What is the latest situation in Bitcoin?
Bitcoin, which could not recover due to ban attempts and energy consumption criticisms from various countries, was almost destroyed by the news from China. The People’s Bank of China also joined the convoy of those who turned their backs on Bitcoin and cryptocurrencies. The statements of the bank, which warned about cryptocurrencies, combined with the restrictions, caused destruction.
The popular cryptocurrency, which started the day at the level of 32 thousand 600 dollars, experienced a serious loss of value during the day. Thus, Bitcoin fell below $ 30 thousand for the first time since January. It remains unclear whether this will cause a mass exit of fussy investors or whether it will cause people who see opportunity to invest.
What about other cryptocurrencies?
The decline in Bitcoin had a negative impact on other cryptocurrencies as well. Elon Musk’s favorite Dogecoin lost 23%, while Ethereum fell 10%. The biggest setback was on the NEO side. The cryptocurrency, which has been on the rise recently, has lost 27 percent of its value.
So what do you think about this subject? Will Bitcoin bounce back and get stronger despite all the negativities, or will it be buried in history as many government institutions claim? Do not forget to share your views with us in the comments section.