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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 had been reached on the weekend.
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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 be based on statements by the multibillionaire and Tesla boss Elon Musk have reacted from the weekend, which 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 that it wants to accept Bitcoin as a means of payment in the future.
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Musk view crypto rally running breath Bitcoin ether falling message