Bitcoin crashed, Bitcoin, which has been notable for its rapid rally in recent weeks, entered the new week with a sharp drop after breaking a record at the weekend. The rally in bitcoin has been replaced by a sharp drop.
The decline in cryptocurrency exceeded 10 percent. Over the weekend, Bitcoin had seen over 58 thousand dollars. On the first day of the new week, Bitcoin prices fell to below 48 thousand dollars.
Concerns were raised that the levels in the cryptocurrency market were excessive. Tesla boss Elon Musk, who backed prices up with his $ 1.5 billion investment in bitcoin, has been one of the main drivers of the downward movement, noting that prices seem to be quite high this time around.
Warnings from analysts and Yellen, Commenting on Bloomberg, Oanda senior analyst Jeffrey Halley noted that Musk’s Twitter shares have reversed the speculative movement in the market.
Analysts at JPMorgan, which had expectations of $ 146k in bitcoin, also warned of declining liquidity.
US Treasury Secretary Janet Yellen also continued her warnings about Bitcoin. Yellen noted that Bitcoin is a highly speculative asset, and those who invest in Bitcoin should pay attention to it.
As well as the decline of Bitcoin in the cryptocurrency markets, eyes have been turned on the consequences of the ripple case.