Bitcoin fell below $30,000, recording the largest decline per day since the’price collapse’ in March last year. When Janet Yellen, who was appointed Biden’s first finance minister, made a remark suggesting strengthening bitcoin regulations at a confirmation hearing, the market was interpreted as being shaken.
According to CoinMarketCap, a cryptocurrency market information site, as of 11 am on the 22nd, 1 bitcoin is trading at $29,000. This is a 14.5% decline from $34,800 24 hours ago.
In terms of the largest daily drop, it is the largest drop since the price collapse in March last year. In March last year, the price of bitcoin fell to 39% in 24 hours.
It has been about three weeks since the bitcoin price broke below $30,000 on the 3rd.
This plunge is interpreted as the market’s immediate reaction when the prime minister Janet Yellen revealed a negative view on Bitcoin at a confirmation hearing held on the 20th local time.
When asked at a hearing, “What do terrorists think about the dangers of using cryptocurrency?” I can see it.”
The remarks of the nominee Yellen were taken as a sign that the Biden government is hostile to cryptocurrency and that it can tighten regulations.
Related Articles
“I buy bitcoin”…a direct transaction service between users appeared
“PayPal, Bitcoin revenue to exceed $2 billion in 2023”
Corona 19 vaccine ad explosion on the dark web… “Bitcoin request”
Bitcoin price rises…”bubble” vs “good news”
In addition, suspicion that a double payment flaw was found in the Bitcoin blockchain fueled the price decline. Double payment refers to the act of using the same cryptocurrency twice. In blockchain networks, double payment is considered the most fatal error that shakes the cryptocurrency foundation.
The global cryptocurrency exchange BitMEX informed the Bitcoin community on the 19th local time, “It seems that a small double spending of about 0.00062063 Bitcoins (approximately $21) has been detected on the Bitcoin blockchain.” However, as a result of later confirmation, he corrected that “the two blocks were mined at the same time, so it was not double payment.