Bitcoin remains the most attractive option for cryptocurrencies investors and in April 2021 this year its price reached a record level of over 64 thousand US dollars. However, after that its price declined and now it has fallen to below 40 thousand dollars. In just one day, its price has dropped by 14 percent. Since February 9, bitcoin prices have reached below 40 thousand dollars for the first time.
In May this month, the price of bitcoin is steadily declining. According to the Quindesk data, after touching a low of $ 38,585, it is now trading at a price of about $ 39 thousand. Bitcoin has now become cheaper by 38 percent from its all-time high record price of $ 64,829 (Rs 47.40 lakh).
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Bitcoin prices rolled for these reasons
- Earlier this month, Elon Musk, CEO of giant Tesla, scrapped the payment option for customers to buy their company’s cars via bitcoin. Musk took this decision in view of concern about the environment.
- A few days ago Musk suggested that Tesla could liquidate its bitcoin holdings, meaning that it would not invest in bitcoin. Earlier this year, Tesla had invested $ 150 million (Rs 10,968 crore), of which 10 percent has been sold by Tesla.
- According to the news of the routers, China has banned crypto transactions. Now in China, banks and online payment platforms have banned cryptocurrency related services and warned investors against crypto trading. Under this ban, services such as registration, trading and clearing and settlements of cryptocurrencies have been banned in China.
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