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Cryptocurrency: Bitcoin remains below the $ 50,000 mark after the price slump

Cryptocurrency
Bitcoin remains below the $ 50,000 mark after the price slump

Two bitcoin coins are – as an illustration – on a table. Photo: Fernando Gutierrez-Juarez / dpa-Zentralbild / dpa

© dpa-infocom GmbH

The price of Bitcoin continues to fluctuate strongly. After heavy losses over the weekend, a cautious recovery continues.

After the price slide on Saturday morning and their partial recovery, cryptocurrencies remained stable on Monday morning. However, the rate of Bitcoin, the world’s most famous digital currency, is still below the $ 50,000 mark.

On Monday morning, a Bitcoin on the Bitstamp trading platform cost around $ 49,000, about as much as on Sunday. By early Saturday, the rate had slumped by around a fifth to just under $ 42,000 in less than an hour, but was then able to recover somewhat by Sunday evening. Ether, the second largest digital currency, showed a similar price trend.

According to experts, a precise reason for the sudden drop in the Bitcoin price was not immediately apparent. One referred to the less liquid markets on weekends, which can result in greater fluctuations. If individual investors then sell off larger positions, this can put a lot of pressure on the price. In addition, there is an already tense mood on the financial markets.

dpa

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