The price of the digital currency fell to its lowest level since July as a selloff continues in which it has fallen almost 50% since its record high.
The North American Bitcoin Conference was held at the James L... Knight Center in Miami, Florida. Joe Raedle is the photographer.
The images are from the same company.
After hitting a low of $34,020, the coin rebounded to $34,614 at 12:58 p.m. Over the past 24 hours, its decline has increased to 9.9%.
Since it hit a record high in November, the leadingcryptocurrencies has lost $600 billion in market value.
Over the past 24 hours, other top digital currencies have fallen, with etherum off 13.3% and bianca coin down 15.2%.
When the Federal Reserve said it may move more quickly than expected due to high levels of inflation, investors sold cryptocurrencies. The long-term outlook is still bullish for both the top two cryptocurrencies, but the short-term is looking ugly.
It's called Tangent.
The president of El Salvadoran said that his country bought 410 bitcoin for 15 million dollars and that it was really cheap. In September, El Salvador became the first country in the world to accept the digital currency as legal tender.
The Biden administration is preparing to release a government-wide strategy for digital assets. According to people familiar with the plans, the administration will order federal agencies to have risk and opportunity assessments.
It has lost half its value since hitting a record high.
After a $300 billion sell-off, the market is in a state of crisis. (Forbes)
The President of El Salvadoran said that the country bought fifteen million dollars worth of digital currency.
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