[ad_1]
Bitcoin and major cryptocurrencies collapsed again on Wednesday. The largest cryptocurrency fell 3.22% to a two-week low of $ 32,592.33 at 7:30 a.m. IST on June 9. With the recent drop in prices, Bitcoin has slowly approached a symbolic threshold of $ 30,000 that it had not seen since January. The price of bitcoin has been increased by the interest of renowned professional investor CEO Elon Musk in the big Wall Street banks since the end of 2020. The price of bitcoin has gained nearly 800% between the start of the year. last and peaked at $ 64,870 in April. The cryptocurrency has fallen by half since reaching an all-time high in April. It plunged nearly 10% when CEO Musk announced that Tesla would no longer allow purchases of vehicles using bitcoin due to environmental concerns.
Former US President Donald Trump called the Bitcoin cryptocurrency a “scam.” In an interview with Fox Business Network on Monday, Trump said, “Bitcoin, this looks like a scam. I don’t like it because it’s another currency that competes with the dollar. … I want the dollar to be the world’s currency. That’s what I’ve always said. “
Ether, the second largest cryptocurrency, fell 5.82% to $ 2,446.88 on Wednesday morning, according to coinmarketcap.com. The main price support is at the $ 30,000 level, and a fall below that handle could stop and accelerate the sell-off in the near term, said Ipek Ozkardeskaya, senior analyst at Swissquote, reported Bloomberg.
Dogecoin, which was created as a parody cryptocurrency, has had an even more eventful year than bitcoin. Its price rose from less than a penny in January to nearly 70 cents in May. It is currently trading at around 31 cents.
After announcing his intention to make Bitcoin legal tender, the President of El Salvador, Nayib Bukele, has now attached incentives to those who sell Bitcoin in the country. Bukele added to the buzz on Monday by tweeting that there would be no capital gains tax on Bitcoin. It further offered immediate permanent residence to crypto entrepreneurs. Bukele also tweeted on Monday that the country would build satellite infrastructure for its citizens in rural areas to connect to the internet and the Bitcoin network in places with poor connectivity.
Take a look at the top cryptocurrencies and their prices on June 9 (data from coinmarketcap.com when posting the article):
Bitcoin $ 32,672.66 -3.31% change in 24 hours
Ethereum $ 2,440.22 -6.31% change in 24 hours
Binance Coin $ 336.79 -6.98% change in 24 hours
Tether $ 1.00 0.07% change in 24 hours
Cardano $ 1.49 -5.12% change in 24 hours
Dogecoin $ 0.31 -7.76% change in 24 hours
XRP $ 0.8359 -3.12% change in 24 hours
Polkadot $ 20.62 -6.28% change in 24 hours
USD Coin $ 1 0.04% change in 24 hours
Uniswap $ 22.52 8.50% change in 24 hours
Read all the latest news, breaking news and coronavirus news here
[ad_2]
picture credit