The price of bitcoin has dropped more than 60 percent since November. One bitcoin is currently worth around 21,000 euros. What happened and what happens next?
According to cryptocurrency expert Sandner, there are several reasons for the incident. Incidentally, the Ethereum update is causing uncertainty. Interest rate hikes are also playing a role.
“Some investors are currently deciding between suspending losses or cashing in the remaining profits,” says analyst Timo Emden. Against this backdrop, investors should prepare for “further downside risks”.
A price has been reached that many Bitcoin fans would never have believed possible: Bitcoin is worth around 21,200 euros on Tuesday. This is the lowest level in a year and a half. As of November, the price was still 56,000 euros. This corresponds to less than approximately 62%.