The Bitoin cryptocurrency rate fell by 13% in a day and reached its lowest value in the last ten days.
Back on Wednesday, the value of the cryptocurrency reached its maximum value over the past three years – $ 19,521. On Thursday, the rate fell by about $ 2,600. After a sharp drop, the rate slowly went up.
The downfall came after the CEO of Coinbase Inc. Brian Armstrong suggested on Twitter that the US is considering new regulations that would undermine the anonymity of digital transactions. Concerns about cryptocurrency regulation and withdrawal of profits were among the reasons that led to the fall.
Investors hoped that the fall of 2017 would not repeat itself in the cryptocurrency market. They hoped that in 2020 the market would be more mature and there would be fewer retail investors.
The fall of Bitcoin also triggered the fall of other cryptocurrencies. Ethereum fell 13% and XRP fell over 20%.
As of 16.25 Kyiv time on November 26, the Bitcoin exchange rate was 16,915 (-11.92%). During the day, the rate fell by $ 2,289.
Bitcoin is up about 140% this year, almost hitting a record high of $ 19,666. Growth has been fueled by the demand for risky assets, the resilience of cryptocurrencies to inflation, and expectations that Bitcoin will gain widespread acceptance.
- At the end of July, the value of Bitcoin began to rise and in two days rose by $ 1900. Then the price of the cryptocurrency exceeded $ 11,000. In May-July, its price fluctuated at around $ 9100.
- On October 31, the value of Bitcoin rose by about 5%, exceeding the $ 14,000 mark. Then the cryptocurrency beat the rate of January 2018.
- On November 17, Bitcoin surged to $ 17,000 for the first time in two years. The very next day, the Bitcoin exchange rate exceeded $ 18,000 and updated the December 2017 maximum.
Alexander Myasishchev
