Bitcoin is fanning 17% as uncertainty about ratings grows

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Bitcoin is fanning 17% as uncertainty about ratings grows


Tuesday – 12 Rajab 1442 AH – February 23, 2021 AD


Bitcoin Coins (EPA)

London: “Middle East Online”

Bitcoin plunged 17 percent today, Tuesday, sparking a selling wave in various cryptocurrency markets as investors grow anxious about extremely high valuations as traders who are large centers sell the currency to reap profits.
The world’s largest cryptocurrency incurred its steepest daily decline in a month, dropping to a low of $ 45,000. Bitcoin was down 11.3 percent in most recent trading at 09:39 GMT.
The decline extended by about a fifth from the high of 58,354 dollars it reached on Sunday, but Bitcoin is still high by about 60 percent since the beginning of the year.
The price of Ether, the second largest cryptocurrency in the world by market value, which usually moves in conjunction with Bitcoin, has fallen more than 17 per cent and recorded in the latest transactions of $ 1,461, down nearly 30 per cent from a record high reached last week.
Cryptocurrency markets have witnessed frenzied activity this year, as top wealth and corporate managers are taking the emerging class of assets seriously, pumping money into the sector and raising confidence among small speculators.
An investment of $ 1.5 billion by electric car maker Tesla in the cryptocurrency this month helped lift Bitcoin’s value above $ 50,000, but may now lead to pressure on the share price of the company, which has become highly vulnerable to Bitcoin’s moves.


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