The price of bitcoin experienced a significant increase last week. However, it decreased by 14% from US $ 59,000 to US $ 50,000 per chip.
Not only bitcoin, other well-known cryptocurrencies such as ethereum and dogecoin have also experienced a decline.
Quoted from CNN, Monday (19/4/2021), it was stated that the value of bitcoin has indeed skyrocketed like crazy this year. However, this drastic drop in prices is suspected to be due to rumors that the US Treasury is planning to take action against money laundering cases using cryptocurrency.
Cryptocurrencies Are Very Fluctuating
The speed at which bitcoin prices change within one night is an indicator if the crypto market is very volatile.
The turmoil of the cryptocurrency market was at its peak when the Coinbase platform went public with a value of US $ 86 billion. This was followed by an increase in the price of Dogecoin by up to 500%, even though in 2013 Dogecoin was an asset that had become a dummy and was never seen by investors.
These crypto money supporters believe that bitcoin, ethereum and other digital coins can revolutionize the world of finance. Moreover, it is supported by Coinbase which has taken the floor on the Wall Street stock exchange.
Then companies such as Tesla, Mastercard, PayPal, and Visa that have started processing payments using bitcoin have made this digital currency even more popular.
Furthermore, Goldman Sachs is also reported to be exploring offers for their wealth management clients to invest in digital currencies such as bitcoin or others. In line with Goldman, Morgan Stanley will also offer bitcoin to their wealthy clients.
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