Bitcoin price collapses after record growth

Now, the total value of the market capitalization of the cryptocurrency bitcoin is more than $ 532 billion.

The value of the most popular cryptocurrency, bitcoin, has plummeted and has fallen below $ 29,000. This is evidenced by CoinDesk data on the morning of January 4.

At the same time, the cryptocurrency has already lost more than 15% of the all-time high of $ 34,778.

Now the total value of the market capitalization of bitcoin is more than $ 532 billion. The drop per day was more than $ 66 billion. Its share is more than 70% of the entire global cryptocurrency market.

Photo: screenshot

Remember that the value of the cryptocurrency has increased considerably in recent months. In early October, Bitcoin was worth around $ 11,000. Since the beginning of 2020, the price of cryptocurrency has increased threefold in the context of an active influx of institutional investors to cryptocurrencies.

According to market analysts, the appetite for risky assets that are cryptocurrencies is supported by massive injections from the US Federal Reserve and other central banks, as well as rising expectations that the coronavirus pandemic will be brought under control. thanks to vaccines.

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