Bitcoin Value Falls By 50% Since November Peak

EDITOR’S PICK

• Ukraine War: Russian Generals ‘Ignore’ Putin’s Order To Launch Nuclear Missiles
• Ukraine War: West Must ‘Prepare For War’, Says Ex-Nato Chief As Putin Unleashes Cruise Missiles In Ukraine
• Elon Musk Stages $43bn Hostile Takeover Of Twitter

EKO HOT BLOG reports that the value of Bitcoin continued to fall over the weekend as it dropped below $34,000 (£27,630), according to the Coinbase cryptocurrency exchange.

The world’s largest cryptocurrency by market value has now fallen by 50% since its peak in November last year.

The slide in the value of digital assets comes as stock markets around the world also dropped in recent days.

On Monday, some Asian markets headed lower again with Japan’s benchmark Nikkei index down by around 2%.

Bitcoin accounts for about a third of the cryptocurrency market with a total value of $650bn.

Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.

Meanwhile, in the last year Bitcoin has become legal tender in two countries – El Salvador and the Central African Republic.

FURTHER READING:

• Ukraine Crisis: Powerful Explosions Rock Kyiv After Russian Warship Sinks
• Ukraine Crisis: US To Give Heavier Weapons To Ukraine As Russia Plans Next Assault
• Ukraine Crisis: Russian Soldiers Raping Many More Ukrainian Women, Says MP

Since El Salvador said it would allow consumers to use the cryptocurrency in all transactions, alongside the US dollar, the International Monetary Fund has urged it to reverse its decision.

Click to watch our video of the week