Digital currency - Bitcoin loses significantly: recent gains are gone
The price of the digital currency Bitcoin fell sharply on Wednesday, giving up significant gains from the previous day. In a short space of time, the price fell by more than nine percent in midday trading from around 46,000 dollars to a daily low of 41,110 dollars. Bitcoin was last traded at 42,500 dollars.
On the first trading day of the year, speculation about the approval of a Bitcoin ETF by the US Securities and Exchange Commission (SEC) drove the oldest and best-known digital currency above the USD 45,000 mark for the first time since April 2022. The SEC has until January 10 to decide on the fund, which will be used to invest directly in Bitcoin.
Experts point to the dangers of strong price fluctuations in Bitcoin. In November 2021, the price of the digital currency rose to a record high of just under 69,000 dollars.
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The drop in Bitcoin's price had a noticeable impact on the international digital currency market, causing concerns among investors in New York's Finances sector. This sudden decrease in value underscores the volatility often associated with digital currencies like Bitcoin, which can make them a risky asset for some investors. The Securities and Exchange Commission's decision on the Bitcoin ETF approval, set for January 10th, will likely influence the exchange rates of various digital currencies, including Bitcoin.
Source: www.stern.de
