Bitcoin is down 3.39% to $ 29,733.98 per unit on Tuesday, the fourth day in a row that the digital currency has shed weight, returning to levels hit only four times this year.
Many analysts viewed $ 30,000 as a resistance point, overcoming which could lead to a series of subsequent falls. The fall of the world’s largest cryptocurrency led to a drag in pairs at a time when The Bloomberg Galaxy Crypto Index is 4%.
While inflation has scared stock markets and the spread of covid-19 undermines optimism about the economic recovery, investors are moving away from riskier assets like cryptocurrencies in search of others like the sovereign debt market despite very low interest rates. indicator.
The story that bitcoin can be seen as a good investment alternative in times of higher inflation has collapsed this year as the cryptocurrency accumulates 2% gains this year, which is below the inflation rate and well below the 13% growth recorded in the S&P 500 index. …
Today’s plunge is plaguing several bitcoin-related companies, such as North American ones. Marathon Digital (-3.5%), Riot Blockchain (-1.4%) or European Argo Blockchain (-9.8%), Online Blockchain (-4.9%) e Northern data (-5.7%).
Bitcoin is striking in several ways this year. Since Tesla stopped accepting bitcoin as a form of payment, regulators in China have been pressured to exclude all mining that takes place in the country, which accounts for more than half of the total.
