FRANKFURT (dpa-AFX) – The price rally on the market for digital currencies ran out of steam at the beginning of the week. Both the oldest and best-known internet currency Bitcoin and the second largest crypto currency in terms of market value, Ether, fell significantly on Monday. One bitcoin was worth around $ 53,000 on the Bitstamp trading platform. A record high of $ 58,354 was reached at the weekend.
The ether price also fell significantly on Monday. After the $ 2000 mark was exceeded for the first time on the weekend, an ether cost $ 1750 at the beginning of the week. The market value of all roughly 8,500 digital currencies fell from $ 1.76 trillion at the weekend to about $ 1.63 trillion. The value of all bitcoins in circulation was around a trillion dollars.
The re was speculation in the market about the reasons for the price setbacks. It is conceivable that the price increase on the weekend was mainly driven by private investors, while professional investors created selling pressure on Monday. This could have reacted to statements of the multibillionaire and Tesla boss Elon Musk from the weekend, who had described the Bitcoin price on Twitter as “apparently high”.
The crypto supporter Musk has caused swings in digital currencies in recent weeks. For its part, the electric car manufacturer Tesla caused a run on Bitcoin after it became known that Tesla had invested billions in the cryptocurrency and will accept Bitcoin as a means of payment in the future./bgf/jsl/mis