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The day before, Finance Minister Yellen appears to have affected “speculative concerns.”
Expert “Bitcoin purchases require higher loan rates and lower prices”
▲ Bitcoin price fluctuations during the last 24 hours. At 7:37 a.m. on the 24th, it’s $ 47,939.34. CoinDesk source
Bitcoin volatility is growing again. It showed a decline of more than 10 million won a day and fell below $ 50,000 again.
According to CoinDesk on the 24th, at 7:37 am, the price of bitcoin is trading at $ 47,939.34, 11.45% less than in the previous 24 hours. The gap between the high price ($ 54,359.15) and the low price ($ 4,4964.49) for 24 hours was calculated to be $ 9394.66 (about 10.45 million won).
The drop in bitcoin prices is attributed to comments from US Treasury Secretary Janet Yellen and CEO Elon Musk Tesla.
The day before, Minister Yellen noted in an interview with CNBC that “Bitcoin is a very inefficient medium of commerce and the amount of energy consumed to process these transactions is enormous.” “Bitcoin is a highly speculative asset and people should be aware that it can be extremely unstable,” he said. “I am concerned about the potential losses investors may suffer.”
In addition, he suggested the possibility of the central bank digital currency (CBDC), which had begun to develop as chairman of the Federal Reserve System (Fed) in the past, and encouraged the fall in the price of Bitcoin.
Prior to this, the CEO of Musk, who led the bitcoin boom, also took a step outward, saying, “The price of bitcoin and Ethereum appears to be high,” and market concerns are also growing.
“It’s like a virtual forest fire,” said Glen Goodman, a famous investor and trader. Musk was a spark, and the trees are getting sick “.” Virtual currency futures traders are lending too much to buy bitcoin, so the lending rate has skyrocketed and the price has to drop to ditch the lenders and get the interest rates back. ”He explained.
