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Bitcoin cryptocurrency price slide below $ 48,000

2021-12-28T19:27:17.148Z


The strong recovery is followed by another setback: Bitcoin crashed by almost 10 percent on Tuesday evening. The profits of the past few days are gone, the cryptocurrency is approaching its four-week low.


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Bitcoin:

The cryptocurrency fluctuates strongly towards the end of the year

Photo: JEROME FAVRE / EPA

Sharp price fluctuations in Bitcoin: While most equity investors have already closed their books for 2021, the crypto exchanges will continue to be traded vigorously after the Christmas holidays. In lockstep with the global stock markets, the world's best-known digital currency Bitcoin had also started to recover in the past few days: On Monday, Bitcoin climbed well above the mark of 51,500 US dollars and had at times reached its highest level in four weeks.

But on Tuesday, there was another setback in late trading: Bitcoin collapsed by almost 10 percent and threatened to fall below the $ 47,000 mark in the evening. The cyber currency thus marks the lowest level since the most recent setback on December 4th. The hopes of the crypto community for a similarly strong year-end rally as at the turn of the year 2020/2021 have thus been severely dampened. Smaller cryptocurrencies such as ether also fell sharply.

The digital currency has had turbulent weeks with massive fluctuations. In early November, Bitcoin had risen to a record high of $ 67,000, but then crashed again to $ 46,000 by mid-December - a loss of almost 30 percent within six weeks. Regardless of the recent strong price fluctuations, however, interest in crypto currencies is growing, which can be seen from the continuous inflow of capital into this asset class, according to the market.

In view of the recent losses, Bitcoin fans wistfully remember the price rally a year ago: Between December 24, 2020 and January 8, 2021, Bitcoin had shot up from $ 24,000 to $ 40,000 - a price gain of more than 60 percent within 14 days.

However, a similar run to that of the Santa Claus Rally 2020 is no longer expected this year.

With news agencies

Source: spiegel

All news articles on 2021-12-28

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