The price of bitcoin continues to fluctuate in trading in Asia on Friday, March 13: a drop in bitcoin by 50% over the past two days is one of the largest in history. It is reported by Bloomberg .
It is noted that bitcoin fell by 32% to $ 3,915 – the weakest indicator since March 2019 before playing a bit on the Hong Kong exchange.
As of 00:25 on March 13, on the Hong Kong stock exchange, bitcoin fell 7.8% to $ 5,280.
According to the publication, from the last maximum in February, bitcoin fell by about 50%.
“Traders are“ pulling ”money from bitcoin to invest in another asset class,” said Ross Middleton, DeversiFi Chief Financial Officer.
“Perhaps traders believe that in the near future there will be better short-term opportunities to switch to other asset classes,” he added.
It is noted that this jump is due to the willingness of investors to take risk transactions against the backdrop of reports of an imminent decline in the coronavirus epidemic in China and the second stage of a trade deal between China and the United States.
Recall that in November 2019, bitcoin fell off a record, dropping below $ 7,000 for the first time since May 17. And in February 2018, Bitcoin set a historical record for the longest period of price decline in 10 years of its existence. At the same time, the bitcoin exchange rate reached a historical maximum of almost $ 20,000 at the end of 2017.