Bitcoin value drops below $50,000 again | Money

The price of Bitcoin fell during the Asian trading session by about 4 percent to 49,255 dollars (43,490 euros). Ether, the second largest cryptocurrency in the world, also lost ground and was worth less than $4,000 (€3,530). Data from CoinGecko, which tracks the cryptocurrency market, shows that the total value of all cryptocurrencies has fallen by 2.7 percent in the past 24 hours to $2.45 trillion, or $2160 billion.

According to Vice President of Luno Exchange in Singapore Vijay May, the decline in the price of Bitcoin is “not alarming” at the moment. According to him, the cryptocurrency outlook will remain positive as long as the price level remains from $48,000 to $49,000.

Bitcoin Ticked Again in November Standard At about $69,000, but after the omikron variant was discovered, the value dropped sharply. The fear that the phasing out of support measures by central banks may cause problems for risky investments such as digital currencies is also causing price pressure. Tougher US tax regulations on cryptocurrencies and China’s crackdown on the crypto sector are also putting pressure on crypto prices.