The culprits include China, which on Tuesday banned cryptocurrency financial firms, and Tesla (TSLA.O) chief Elon Musk, who has abandoned his plan to buy, hold and accept payments for his electric cars. in Bitcoin.
Cathie Wood, CEO of Ark Invest still thinks Bitcoin could reach $ 500,000. For most investors, however, such changes are an important sign that identifies the state of the situation.
$ 92 billion worth of Bitcoin was traded on Apple (AAPL.O) on Tuesday, even though the US company’s $ 2 trillion market capitalization is roughly three times the value of all Bitcoins currently in existence.
For now, crypto-assets are far from achieving real currency status.
In terms of inflation, investors are more concerned about this situation than any other year and apparently bitcoin is heading in the wrong direction possible.
So the best way to think of Bitcoin is by considering a real currency conversion option, which may one day be very expensive.
