Home » Bitcoin reached historic high value – then price fell – E24

Bitcoin reached historic high value – then price fell – E24

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Bitcoin reached historic high value – then price fell – E24

The top listing from 2021 was passed shortly after 4 p.m. Norwegian time. Over the course of the evening, the rate has fallen back sharply.

The cryptocurrency bitcoin has set a new record and surpasses the 2021 peak. Photo: Dado Ruvic / Reuters / NTBPublished:

Today 16:09

Updated less than 1 hour ago

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The case is updated.

The digital currency bitcoin reached a new record high value of over 69,000 dollars on Tuesday afternoon.

Shortly afterwards, however, the rate fell rapidly and at 20.40 one bitcoin is traded for approximately 62,700 dollars. It is nearly 10 percent lower than the peak levels from 4 p.m., writes CNBC.

– Given that almost everyone who has ever bought bitcoin is now in the red, there is a good chance that we will see a certain degree of profit protection, says Zaheer Ebtikar, founder of the crypto fund Split Capital, to Bloomberg.

The previous “all-time high” for the cryptocurrency was just below $69,000 in November 2021.

Strong rise

Since the new year, the price of bitcoin has risen sharply. Both the 50,000 and 60,000 dollar milestones were passed in February.

An upcoming reduction in the supply of bitcoin, also known as a halving, has contributed to a rally in the market, Bloomberg wrote in late February.

In addition, the US Financial Supervisory Authority (SEC) approved trading in a number of bitcoin products at the start of the year. Thus, bitcoin-ETFsbitcoin-ETFsAn exchange-traded fund (ETF) is a collection of securities. EFTs are traded on a stock exchange, in the same way as shares. listed and traded on Wall Street, in the same way as a share.

Scandals

The cryptocurrency is known for large fluctuations, and has been affected by a number of scandals.

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At the end of November last year, the head of Binance, the world‘s largest crypto exchange, resigned after pleading guilty to violating US money laundering laws.

The year before, the crypto exchange FTX went bankrupt. Founder Sam Bankman-Fried was later found guilty of fraud. His defense attorney Mark S. Cohen has told E24 that Bankman-Fried maintains his innocence and will continue to fight the charges.

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