The most popular cryptocurrency Bitcoin has had several not very successful trading sessions. It took just a week to erase a quarter of its value. Down was Tesla’s announcement that it would stop accepting payments in Bitcoin.
Bitcoin has shown in the past week why cryptocurrencies are considered one of the riskiest assets to invest in at all. Bitcoin had only just attacked the $60,000 mark a week ago, but then came a statement from electric car maker Tesla that it would not accept the cryptocurrency for payments, and Bitcoin was expecting a steep decline.
It had already cost less than $50,000 in three days, but even that wasn’t the meta from which it bounced back to growth. On the contrary, there was another fall. Bitcoin is now trading at around $43.5 thousand, the level it was at in the first decade of February this year. Investors are now anxiously awaiting what happens next.
Some experts believe it will take a breather again, others expect Bitcoin to remain at its current values for a longer period of time. Or that he’d go any lower. So far, however, the most popular cryptocurrency is looking for a foothold to stop its decline. Nor does the US central bank’s much-discussed possibility of raising interest rates play into his hands.