bitcoin fall down by 50 percent: investors rallied; Bitcoin prices plummet, crushing millions of dollars in a week – bitcoin sharp fall continue down by almost 50 percent
- Along with Bitcoin, other virtual currencies have also fallen sharply.
- The price of Bitcoin has dropped by 50 per cent to ३२ 32,601 compared to last year.
- Withdrawal of investment by big investors, a blow to the confusion about legal recognition
Bitcoin, the world’s most popular virtual currency, has plunged for the second time in a row. Bitcoin fell 13 percent on Sunday. The price of Bitcoin has dropped by 50 per cent to ३२ 32,601 compared to last year. Bitcoin had earlier touched a record high of ८ 64,895 on April 14.
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Along with Bitcoin, other virtual currencies have also fallen sharply. Ethereum, the second most popular virtual currency, fell 11 percent on Sunday. Ethereum is currently trading at २१ 2150. In addition, dozecoin fell 7 percent. Ripple fell 13.64 per cent and Cardano 13.77 per cent.
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The market value of cryptocurrency has also declined sharply. The market value of 7,459 cryptocurrencies fell by 33 per cent in one week. The market value fell by ७ 748 billion during the week. According to CoinGecko, the total market value of cryptocurrency as of May 16, 2021 was २ 2.25 trillion. However, the market value of cryptocurrency has now come down to लाख 1.5 trillion after a sharp fall over the past eight weeks. Bitcoin fell 27 percent, Ethereum 46 percent and Dogecoin 39 percent this week.
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A few months ago, Alan Musk, the head of the Tesla company and the world’s richest man, invested 1.5 billion in Bitcoin. Since then, the value of Bitcoin has skyrocketed worldwide. In 2021, the value of Bitcoin increased by more than 75%.
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In March 2020, the value of Bitcoin was around ५० 5,000. Bitcoin crossed the डॉलर 20,000 mark for the first time in December in the Corona crisis. Falling gold prices and volatility have led investors to turn to Bitcoin. So Bitcoin had skyrocketed. Bitcoin hit 64,000 last month. However, experts say that the withdrawal of investments by big investors and the uncertainty created by the confusion over legal validity has hit the virtual currency market hard.
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