EXPLAINER: Why has the price of Bitcoin been falling?

0
10

NEW YORK (AP) — The price of the famously volatile digital currency Bitcoin fell nearly 30% at one point Wednesday after the China Banking Association warned member banks of the risks associated with digital currencies. The decline narrowed to below 10% in the afternoon, but Bitcoin had still lost about $70 billion in market value in 24 hours. Bitcoin has lost about 38% of its value since April 13 when it hit a high of more than $64,800. The China warning was just the latest headwind: Tesla recently decided to not accept Bitcoin as payment _ after it said it would _ and there have been murmurings in Washington about tighter regulation of digital currencies.   

The post EXPLAINER: Why has the price of Bitcoin been falling? appeared first on WEEK.

LEAVE A REPLY

Please enter your comment!
Please enter your name here