Bitcoin Price Falls Below $55,000 for First Time Since February

July 5, 2024 at 08:04
Bitcoin Price Falls Below $55,000 for First Time Since February

MONEY

Photo: Sergey Bulkin/NEWS.ru

The price of Bitcoin fell below $55,000 during trading for the first time since February 27, according to Binance data. At 07:15 Moscow time, the cryptocurrency was trading at $54,922 thousand.

As of 07:26 Moscow time, Bitcoin accelerated its decline. At that time, it was at $54,254 thousand. By 07:30, Bitcoin fell to $54,477 thousand.

Meanwhile, State Duma deputy Anton Gorelkin said that Russia plans to ban the creation of cryptocurrency exchanges and exchangers outside the experimental legal regime. At the same time, the parliamentarian noted that the circulation of cryptocurrencies remains permitted.

Earlier, financial analyst and PhD in Economics Mikhail Belyaev said that one of the main risks of investing in cryptocurrency is the volatility and unpredictability of the Bitcoin exchange rate . In an interview with NEWS.ru, the expert emphasized that it is also not possible to pay with digital money everywhere, especially in legal circulation. As Belyaev pointed out, cryptocurrency is most often used in the criminal world. In addition, if money is needed, difficulties may arise in converting Bitcoin into net profit at an adequate price.

Earlier, US Deputy Secretary of the Treasury Adewale Adeyemo noted that Russia has recently increasingly resorted to alternative payment mechanisms such as cryptocurrency to circumvent Western sanctions. According to him, it is necessary to introduce a secondary sanctions instrument against foreign suppliers of digital assets.

Ahmed Jubayer

My Name Is Ahmed Jubayer.I am 23 Years Old.I Live In Bangladesh. I am a Student Of A Government University. I am A Part-time Worker.I am a Online Reporter.its my Profession.I Work Here Regularly.

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