Bitcoin News

Bitcoin fell below $ 40,000; The finger of blame is on the head of the SEC


Market data show that the price of bitcoin has fallen below $ 40,000 for the first time in the last six weeks. Many analysts cite the words of Gary Gensler, chairman of the US Securities and Exchange Commission, as the main reason for the market crash.

Bitcoin price chart

to the Report The Telegraph began its closing hours yesterday, with the Bitcoin price hovering around $ 47,300 on Tuesday. During this fall, we saw the formation of foam at $ 39,650.

Bitcoin was not the only digital currency that experienced such a fall in the past few hours. According to the data, 29 digital currencies were among the top 30 currencies in the market.

The Fear and Greed Index shows that intense fear prevails in the market. Exactly one month ago, this index announced the intense greed of traders.

The crash came after Federal Reserve Chairman Gary Gensler called the Stables a “gambling tool.” On the other hand, many activists in this field considered this fall as a positive coincidence. Falling below $ 40,000, they say, is a great opportunity to buy bitcoins on the floor.

Others, such as Mr. Whale, took to Twitter to announce the possibility of a downturn. He wrote to his 300,000 followers on this social network:

The market has reached a downturn.

Galaxy Digital CEO Mike Novogratz said in an interview with CBC that he was not worried. $ 40,000 is said to be a significant level for Bitcoin, and as long as the price does not stabilize below this level, the market situation is good.

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