Elon Musk, Tesla, volatility and, as if that weren't enough, now

China

too

.

The perfect storm is falling this Wednesday on bitcoin, which is suffering

a collapse of around 25%

and is increasingly approaching the level of $ 33,000, just a month after breaking the ceiling of 63,000

greenbacks

.

The most popular of the cryptocurrencies has been suffering significant falls for weeks since then, although until today it had not registered such a forceful collapse.

And there is no single reason.

Some point to the latest messages from

Elon Musk

as the source of the correction.

The

Tesla

founder

announced last week that the company would stop accepting bitcoin as a form of payment for its vehicles, and the news caused the cryptocurrency to kick back.

But the truth is that it is not the only reason.

To the volatility and the speculative component that characterizes the investment in bitcoin, the announcement of

the People's Bank of China

is added today

, which has prohibited banks, financial institutions and online payment channels from providing any services related to any cryptocurrency.

That is to say, neither registration, nor negotiation, nor compensation and neither its use as a guarantee of an operation.

According to various analysts, behind this decision to repress the use of cryptocurrencies from the Asian giant is, on the one hand, the intentions of promoting its own digital currency;

on the other hand,

reduce the lack of control over cash outflows from the country

and, finally, protect citizens against possible scams that are also taking place around the crypto world.

The most experts in the bitcoin universe also point out that behind today's correction is the impact of the last

halving

, which took place in 2020 and

which marks 35 days today,

in which they assure that it is a behavior that is repeated every time that such an operation occurs.

Be that as it may, bitcoin deepens its collapse almost by the minute and drags the rest of virtual currencies with it. Thus,

ethereum

is also left today more than 30% and is close to 2,000 dollars again, despite starting the day touching 3,000

greenbacks;

XRP

loses more than 38% and

Stellar

more than 45%, as does

Dogecoin

, the other cryptocurrency preferred by Elon Musk.

From the

Portocolom

securities agency they

assure that the corrections that cryptocurrencies are suffering in a generalized way in recent days are not accidental and that they could have to do with an imminent regulation in the markets related to them.

"This could imply an adjustment in the price of the universe of cryptocurrencies," they point out, and the shock "would affect retail investors to a greater extent and could generate significant volatility in financial assets."

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Know more

  • economy

  • Bitcoin

  • Elon musk

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