The bitcoin dollar fell 17% on Tuesday, falling sharply in a month as investors rose cautiously about the upward price chart, which looks like a series of blips and began to book profits. The fictitious cryptocurrency fell to $ 45,000 each, down one-fifth from the lifetime high of $ 58,354 it touched on Sunday. The day before, Tesla chief and recent bitcoin champion Elon Musk also said the token price was “high”. On Tuesday the slide showed a tidal effect on the entire crypto space, with Ethereum making up for its losses.
We can attribute the instability we often witness to the nature of crypto units. As tokens of exchange, they have no intrinsic value, and serve as ula attendees mostly in the world flush with fiat money, thanks to the coveted crisis, the largest cash-creation in history. The suffix ‘currency’ is a misnomer. Bitcoin is not used for shopping (except for illegal things, probably). However, the same can be said about gold, which has long been an exchange unit and only fell back half a century ago on the US dollar, and is still seeking. Like gold, who can say which price is right?