Price drops back to the $ 52,000 mark



At the beginning of February the price was still below $ 34,000.

(Photo: AFP)

Düsseldorf © The  furious rally of the digital currency Bitcoin will be hit hard on Monday. At the beginning of the week, the most valuable cyber currency falls to as much as 48,967 dollars, according to data from the analysis company Coinmarketcap. Bitcoin has lost more than ten percent of its value in the past 24 hours.

It wasn’t until the weekend that Bitcoin once again reached new record levels. On Sunday it hit a new high of $ 58,330. On Friday, the market capitalization of the digital currency had risen above a trillion dollars for the first time.

Market watchers assume that the recent price decline is due to profit-taking. Another possible factor is that institutional investors were delayed in reacting to Elon Musk’s statements, while the weekend’s movements were primarily driven by private investors. He feels the current Bitcoin rate as “high”, the Tesla boss tweeted on Saturday.

“Consolidation is necessary in view of the fact that prices are still overheating,” says analyst Timo Emden from the analysis company of the same name. In early February, the price was below $ 34,000 and market capitalization was $ 630 billion.

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Elon Musk’s statements also related to the price level of the second most valuable digital currency, ether. © The re, the Tesla boss’s tweet had a stronger impact: © The  Ether price was below $ 1,800 on Monday, after rising above the $ 2,000 mark for the first time on the weekend.

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