May 25, 2022

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Bitcoin Drops Below $50,000 - E24

Bitcoin Drops Below $50,000 – E24

Many cryptocurrencies are dropping on Tuesday morning.

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On the fourth day of Christmas, the value of Bitcoin drops below $50,000. Just after 8 a.m. Norwegian time, there was a 3.14 percent drop in the past 24 hours to $49,333, according to Queen Market Cap.

In November, the value of the cryptocurrency reached $69,000, but it fell sharply in early December.

Vijay Ayyar of Luno Crypto Exchange in Singapore says the fall in general is nothing to worry about so far, according to Bloomberg.

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An annual survey conducted by Natixis Investment Managers earlier this month showed that managers believe that the cryptocurrency will make its biggest drop in 2022.

More than half of institutions indicate that cryptocurrency is the biggest candidate for correction. The next places on the list are bonds, stocks, and interest rate-sensitive technology.

This is how a handful of well-known cryptocurrencies moved at 08.15 on Tuesday morning:

  • Ethereum is down 3.55 percent to $3,912.55 in the past 24 hours.
  • XRP, the cryptocurrency for the Ripple system, fell 3.60 percent to around $0.89
  • Litecoin fell 4.08% to $150.21
  • Binance Coin up 0.29% to $548.25
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