Bitcoin plunges in two weeks new 30

Yellen “stop virtual currency money laundering”
It once broke down to the 30,000 dollar mark

As the bitcoin price plummeted, it collapsed to the $30,000 mark on the 22nd. It fell by about 30% in two weeks.

The bitcoin market price compiled by CoinDesk in the United States started at $34,000 at 0 o’clock (Korean time) on this day and dropped to 29283 dollars at 10 a.m. Although it rebounded to the low of $30,000 in the afternoon, it is about 30% lower than the record high that reached $42,000 on the 8th. In Bithumb, a domestic cryptocurrency exchange, bitcoin slipped to 31.7 million won at one time in the morning of the day and the price returned to the level at the beginning of the year.

According to the industry’s explanation, there is extreme volatility as’profit realization sales’ poured out following a short-term surge. “Adjustment is a natural phenomenon in any market,” said Michael Sonnen, CEO of Grayscale.

In fact, it is not easy to clearly analyze the reason for the rise or fall of Bitcoin price. Some of the industry also looked for the cause in the comments of US Treasury Secretary Candidate Janet Yellen. At the Senate approval hearing on the 19th, Yellen said, “I think a lot of cryptocurrencies are mainly used for illegal finance. We need to consider ways to prevent money laundering.” The market took it as a sign that cryptocurrency regulations could be tightened.

Bitcoin surpassed $20,000 in 2017, reached a record level at the time, and plunged to $3,000 in early 2019.

Reporter Lim Hyun-woo [email protected]

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