Today's picks

    Bitcoin price plunges 4% and analysts consider that the currency needs stimulants!!

    The price of the encrypted digital currency Bitcoin plunged by about 4% during trading this morning, Wednesday, to lose about 1,500 dollars of its value.

    Bitcoin is a virtual currency, created in 2009, that is used during some electronic financial operations, including the purchase of goods over the Internet.

    There is also the possibility of converting “Bitcoin” into various traditional currencies in special arenas for auctions. And according to trading data this morning, the price fell today to 54.8 thousand dollars.

    The price of “Bitcoin” doubled in the first quarter of this year from about 29 thousand dollars to 58.7 thousand dollars at the end of 2020. And last April, it set a historical record of $64.85 thousand. In May, the cryptocurrency lost a third of its value, dropping its price from 57.7 thousand to 37.3 thousand dollars.

    Bitcoin is the world’s largest virtual currency by market capitalization, up about 90% from its July low, and it may retest its record high reached in mid-April at about $65,000. As quoted by Bloomberg, “Bitcoin may need a new catalyst to reach $60,000, but if that happens quickly, it may not be difficult to reach record levels.” .