The price of the digital currency Bitcoin fell sharply on Wednesday, giving up significant gains from the day before. In a short time, the price fell by more than nine percent in afternoon trading from around $46,000 (41,986 euros) to a daily low of $41,110. Bitcoin last traded at $42,500 (€38,792).
On the first trading day of the year, speculation about the US Securities and Exchange Commission’s (SEC) approval of a Bitcoin ETF pushed the oldest and best-known digital currency above $45,000 for the first time since April 2022. The SEC has until January 10 to decide on the fund that will be used to invest directly in Bitcoin.
Experts point out the dangers of strong price fluctuations in Bitcoin. In November 2021, the price of the digital currency rose to an all-time high of just under $69,000.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
