Bitcoin’s Price Tumbles After US Regulator criticism

Bitcoin the first cryptocurrency in the world has now seen prize decrease after US Treasury Secretary Janet Yellen has warned about the dangers related to the crypto coin.

Janet Yellen has criticized the cryptocurrency on Monday 22nd February citing the fact that it can be used for illegal activities.

Recall, on 21st  February the cryptcurrency attained new All Time High (ALT) when it clocked $58,350 a record breaking feat.

Now owing Janet Yellen criticism, the cryptocoin has fallen into dip and has reduced by 12.57% while its nearest crypto neighbor Etheruem dropped 15% in prize.

A host of household names have now heavily invested in Bitcoin now such as the current world richest man alive Elon Musk whose electric car company invested a staggering $1.5 Billoin in the the cryptocurrency.

Elon Musk also tweeted that the value of the coin was high.

credit card titan MasterCard, investment fund BlackRock and New York bank BNY Mellon have also invested in heavily in the cryptocurrency.

Last week friday, Bitcoin passed $1 trillion but has since so far dropped in its value.

At present the fiat currency has now slowly replaced the physical cash most countries are used with some countries adopting and accepting as a payment method whereas in some countries it’s the total opposite such countries includes Nigeria and India etc.

Since 2010 when Bitcoin came into existence, the currency has taken a lot of people by surprise as its value continues to increase each minute and each day irrespective of its volatile condition at times.

Some other cryptocurrencies have now come up with cryptocurrencies reaching up to more than 10,000 coins in the world both airdrops and official cryptocurrencies included.

Cryptocurrencies such as ADA, Dogecoin, ADA, EONS, Litecoin, Dash, MITH, RSR, Kava,Nebula, DOT, Binance, 1inch, VET, VTHO, Bitcoin cash, BAL, AKRO, Tron, Ripple to mention but a few.

 

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