Bitcoin plummets 7.6% to below ,000

Bitcoin plummets 7.6% to below $40,000

Bitcoin, the most traded cryptocurrency in the world, plummeted 7.60% this Friday and is trading below $40,000, down to its lowest since August, after learning that the Central Bank of Russia wants to ban both the buying and selling of cryptocurrencies.

Shortly after 8 a.m., bitcoin is trading at $38,803 after falling 7.6%, reaching its lowest level since early August 2021.

Another of the great cryptocurrencies, the ethereum also falls strongly, almost 9%, to 2,857 dollars.

Experts explain that cryptocurrencies are affected by the possibility that the Central Bank of Russia prohibits both the sale and the mining of cryptocurrencies.

Also, this market is being influenced by the possibility that the US Federal Reserve (Fed) will tighten its monetary policy to combat inflation, which is leading many investors to dump shares of technology companies.

The Wall Street Nasdaq Composite Index, which brings together the most important technology companies, fell again in the previous day with force, 1.30%.

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