Wednesday, March 3, 2021

Bitcoin fell sharply after record growth


Bitcoin fell by 6 thousand dollars

The total value of the market capitalization of the bitcoin cryptocurrency fell below the $ 1 trillion milestone.

The most popular cryptocurrency, bitcoin, is rapidly falling after a record rise last week. This is evidenced by data from CoinDesk on Monday, February 22nd.

So, as of 15:15 Kyiv time, the cryptocurrency at its peak fell by 8.62% and reached a price of $ 52,461.

The total value of the market capitalization of bitcoin dropped to 973.82 billion. The drop per day was 67.42 billion dollars. The share of bitcoin occupies more than 70% of the entire global cryptocurrency market.

Photo: screenshot

Recall that last weekend, the value of bitcoin rose to a record $ 58,354, and its weekly growth was about 20%. Since the beginning of the year, this cryptocurrency has risen in price by almost 100%, and its market capitalization has exceeded $ 1 trillion.

According to analysts, bitcoin has risen in price amid an active influx of institutional investors into cryptocurrencies. Their appetite for such risky assets is supported by massive injections from the US Federal Reserve and central banks in other countries, as well as growing expectations that the coronavirus pandemic will be brought under control thanks to vaccines.

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