Tuesday’s drop in the value of Bitcoin and other cryptocurrencies was just a prelude to the resale of the sale that took place on the market during Wednesday. Bitcoin thus wrote off half of its value in just one month.
The cryptocurrency markets were dominated by panic. What started last week as an inconspicuous correction turned into a complete inferno on Tuesday and Wednesday. A month ago, Bitcoin set one historical price record after another, and experts speculated as to how far its value could rise. In the end, it turned out that the $ 65,000 mark would withstand.
Investors, meanwhile, have also discovered Ethereum. The cryptocurrency, which still cost around $ 750 at the beginning of the year, has since strengthened more than fivefold. But then came an innocent tweet from Tesla, which announced that it would no longer accept Bitcoins as currency for its electric cars, and an avalanche broke out.
Bitcoin depreciated almost a quarter of its value during Wednesday morning in Central European Summer Time alone. And even though he recovered afterwards, he is almost half cheaper than a month ago. Ethereum also wrote off almost half, but only a week was enough. It is practically impossible to meaningfully estimate where the cryptocurrency markets will move in the coming days.
