Bitcoin falls below $50,000

23.02.2021 - Korneychuk Evgeniya
Bitcoin falls below $50,000

Despite the weakening dollar, Bitcoin fell below $50,000 on Tuesday as investors started to fear the rising valuation of the cryptocurrency.

Bitcoin declined more than 10% on Tuesday trade, suffering from its biggest daily drop in a month after closing at $48,575.The cryptocurrency’s losses mounted to 16% from its highest level reached on Sunday. However, Bitcoin remains upbeat on a yearly basis, up 75% for 2021.

Bitcoin’s valuation surged this year as the cryptocurrency is starting to get the attention of big money managers, which gives small-time speculators more confidence. Earlier this month, Tesla invested $1.5 billion in Bitcoin, pushing the crypto coin to breach the $50,000 valuation.

Meanwhile, Ether, the second-largest crypto, also fell more than 10% and closed $1,613, down about 20% from last week’s record peak.

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?