Bitcoin Continues Hard decline

Bitcoin Continues Hard decline. Elon Musk, who led bitcoin to a historic peak, has dropped as much as 48,000 on this day, with 53,000 coming out. According to Tesla CEO Elon Musk, who brought Bitcoin to the top, inflated prices for cryptocurrencies, the rapid decline of cryptocurrencies continued.

Cryptocurrencies, which fell by up to 17 percent on Monday, fell by more than 10 percent on Tuesday. Over the weekend, the record-breaking cryptocurrency money approached $ 59,000 after recent sales exceeded $ 48,000.

Bitcoin prices have received 66 percent premiums since the beginning of the year, although prices have fallen rapidly in recent years.

According to Elon Musk, critical comments by US Treasury Secretary Janet Yellen and Microsoft CEO Bill Gates were also highlights in the cryptocurrency market. “Bitcoin is quite speculative, people need to be careful, Bitcoin, which is often used for illegal finance, is inefficient,” Yellen warned at a New York Times conference.

Bitcoin Continues Hard decline
Bitcoin Continues Hard decline

While the statements supported the criticism of Bitcoin, there were also overbought signals from some technical indicators. The relative power index pointed to an overbought level in Bitcoin.

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