Sun 23 January 2022:
Bitcoin appears to have lost about half of its value from its record high in November last year, as various economies try to maintain a check on the surging popularity of cryptocurrencies.
The price continues to plummet. Other cryptocurrencies, in addition to Bitcoin, have had a difficult year thus far.
Bitcoin has dropped nearly 8% in the last 24 hours. According to CoinDesk, it was trading at $35,479 as of 9:30 a.m. ET.
The world’s most valuable cryptocurrency has lost more than 20% of its value since the beginning of 2022. It reached a high of $68,990 in November 2021.
The performance of the other cryptocurrencies has been poor. In the previous 24 hours, Ethereum, the world’s second most valuable cryptocurrency, has lost more than 12% of its value.
The other cryptocurrencies have done worse. Ethereum, which is the world’s second most valuable cryptocurrency, has plummeted over 12% in the last 24 hours.
It was trading at around $2,400 as of Saturday morning, as per CoinDesk. It is an almost 30% fall since start of 2020.
Numerous investors are getting worried over the continuous fall and the clampdown on these digital currencies.
Russian central bank has proposed a ban on cryptocurrency use and mining on the territory of the country. The bank has cited threats posed by cryptocurrency to financial stability, citizens’ wellbeing and its monetary policy sovereignty.
The Russian central bank has proposed a ban on cryptocurrency mining and use on Russian soil. Cryptocurrency poses a danger to financial stability, individuals’ well-being, and the bank’s monetary policy sovereignty, according to the bank.
SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES
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