The price of cryptocurrencies has also fallen sharply. Bitcoin prices fell to $ 26,000 on Thursday, down 60 percent from their November high, slightly before rising. Since the beginning of the year, Bitcoin’s price movement has been closely linked to Nassak’s benchmark on technology stocks, indicating that investors are seeing it as a risk.
Ether prices have also fallen, losing more than 30 percent last week. Other secret currencies, such as Solana and Cardano, have also declined.
According to some analysts, any shock can be surprising. According to a study by Mizuho, the average Bitcoin holder on Coinbase will not lose money until the value of the digital currency falls below $ 21,000. That, like Mr. Dolev, is a real death knell.
“Bitcoin worked as long as no one lost money,” he said. Once he returns to those levels, that moment is the moment, ‘My God.’
Professional investors who have gone beyond cryptocurrency have also been reassured. Hunter Horseley, CEO of Bitwise Asset Management, which provides crypto investment services to 1,000 financial advisors, discussed the market this week. Many were not for sale, as were all other properties. Some were trying to use it.
“Their attitude is, ‘This is not fun, but there is no hiding place.’
Still, the fall in prices has reduced crypto traders. A few months ago, blockchain fans predicted that Bitcoin would rise to $ 100,000 this year.