Bitcoin’s value has plummeted after a notable surge earlier in which the digital currency was stacked record after record. Bitcoin fell as much as 18 percent to $ 33,500 on Sunday and Monday, the largest two-day decline since May last year.
According to experts, the loss in value of Bitcoin is linked to a more expensive dollar, which makes other investments less attractive. The gold price also fell on Monday due to the stronger dollar. It is now at its lowest level since early December.
At the end of last week, Bitcoin hit a record high of nearly $ 42,000. This doubled the value of the most famous crypto coin in less than a month. It now appears that this advance is clearly losing steam. Other cryptocurrencies were also under considerable pressure. For example, the ether dropped up to 20 percent
Bitcoin was introduced in early 2009 and was only worth a few cents back then.