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Bitcoin fell to 27 thousand dollars: investors are in the red, the prospects are vague

At the moment, the key cryptocurrency costs exactly 2.5 times less than its rate was at its peak.

The course of the most popular cryptocurrency – Bitcoin – set a record on November 8, 2021, reaching values ​​of 67.5 thousand dollars. Today it cost a little more than 27 thousand, which is exactly 2.5 times less than the record. However, despite the predictions of some skeptics that the cryptocurrency is a “bubble” that will eventually burst, the decline is not so sharp.

However, in just a month, bitcoin lost $15,000 – those who bought it at a fairly low price in April ($42,000 each) are now forced to either wait for growth, or close positions and fix losses.

Presently the cause of the collapse of bitcoin is not exactly known – there have been no high-profile events over the past few days. Previously, bitcoin could become cheaper against the backdrop of statements by officials, such as the proposal of the Central Bank of Russia to completely ban cryptocurrencies in the country. Experts suspect that the new fall of bitcoin is a consequence of its rapid influx to the exchanges. On May 10 alone, an additional 40.6 thousand virtual “coins” appeared on the exchanges, which was a record for two years (in December 2019, the influx of bitcoins also caused its rate to fall). In general, in early May, the maximum number of bitcoins in three months appeared on the exchanges.

But even in April, bitcoin became cheaper – in a month it lost an average of 12%, which hit some investors hard. According to preliminary estimates, 40% of bitcoin holders went into the red, but in reality their number may be even higher. In the world of cryptocurrencies, bitcoin is considered a fairly conservative tool, other cryptocurrencies lose even more. So far, Cronos, Stepn, Nexo and Terra tokens have fallen the most.

Furthermore, even stablecoins began to fall in price – cryptocurrencies that must be tightly tied to the underlying assets. For example, the dollar-pegged stablecoin USDT costs 98 cents, and at some points dropped to 95 cents. The stablecoin Terra USD at the moment fell below 30 cents, although it should also cost exactly $1. The problem with algorithmic stablecoins is that their creators did not have time to respond to fluctuations in supply and demand by selling and redeeming “coins” on the exchange. And such a collapse will clearly discourage investors from investing in “stable coins”.

Analysts believe that bitcoin, like the entire crypto market, is unlikely to show rapid growth in the near future. Most likely, the “crypto” will continue to fall, and investors will continue to lose their invested money.

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