• 27/02/2024 05:20

Bitcoin is 15 years old: the price of the coin has collapsed by 7%

On its 15th anniversary, the first cryptocurrency fell sharply by 7.5% after recently breaking through the psychological level of $45 thousand. The reasons for the sharp decline in the value of Bitcoin are still unknown.

Bitcoin is 15 years old: the price of the coin collapsed by 7%

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By the time of writing the news, the price of BTC according to CoinGecko was $42,295, although in the morning the cost was another $45 thousand.

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So far, analysts do not know the reason for the sharp drop, but they suggest that the sentiment of traders could be influenced by Matrixport’s post, where they published a version of what would happen if the SEC rejected all applications for ETFs. Experts believe that in this case, BTC will fall to $36 thousand.

Recall that investors expect the US Securities and Exchange Commission (SEC) to approve applications from the largest institutional investors for the instrument by January 10, 2024.

The launch of a bitcoin ETF is expected to open the bitcoin market to millions of investors and attract billions in investment.

In recent years, the SEC has rejected several applications to launch spot bitcoin ETFs, arguing that the cryptocurrency market is vulnerable to manipulation.

By the way, on January 3, 2009, Bitcoin founder Satoshi Nakamoto created the genesis block, from which the history of the network began.

minfin.com.ua

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