Bitcoin erases almost half of its all-time peak

24.05.2021 - Petr Mazaylo
Bitcoin erases almost half of its all-time peak

Bitcoin, the world’s largest and most sought-after cryptoccurrency, dropped a total of 13% on Sunday. This followed after it encountered another selloff that erased nearly 50% of its all-time record high.

Bitcoin was quoted $32,601 at 1800 GMT, shedding $4,899.54 during its closing session. Prior to this, it recorded a historic high of $64,895.22 on April 14. Ether also dropped, recording a 17% decline to $1,905 on Sunday.

Apart from potential price swings during unpredictable hours, the crash came after investors’ enthusiasm was dampened by a series of tweets from Tesla Chief Executive Elon Musk.  In addition to this, China sought to abolish Bitcoin mining and trading as part of the country’s ongoing efforts to prevent speculative and financial risks.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?