The footsteps of Elon Musk in the fall of the price of Bitcoin

Bitcoin price fell again; Some analysts attribute the fall in bitcoin prices to a Wall Street Journal report that Elon Musk’s SpaceX has sold its bitcoin holdings.

According to Reuters, the value of Bitcoin, the world’s largest virtual currency, reached its lowest level in the last two months on Friday. A wave of risk aversion has entered the world markets.

Bitcoin suffered its biggest one-day drop since November 2022 on Thursday, dropping 7.2% after the FTX exchange filed for bankruptcy.

The price of Bitcoin fell to $26,172 on Friday, the lowest figure in the last two months. This means a 0.8% drop in price in one day.

Global markets have experienced a wave of selling. Wall Street’s main indexes fell on Thursday, with Asian stocks suffering a third straight week of losses on worries about China’s economy and the U.S. Federal Reserve’s continued rate hike.

Ether, as the second largest virtual currency in the world, has remained stable at 1685 dollars and 20 cents. This virtual currency also had a sharp price drop on Thursday.

Some analysts attribute the fall in bitcoin prices to a Wall Street Journal report that Elon Musk’s SpaceX has sold its bitcoin holdings. Cryptocurrency enthusiasts are heavily influenced by Musk, and the price of Bitcoin has already fluctuated many times in response to his tweets.

The price of Bitcoin has been close to $30,000 in recent months. The value of this virtual currency fell in 2022 following the bankruptcy of many virtual currency companies and the loss of investors, and has been increasing ever since.

BlackRock’s request in June to launch an exchange-traded fund boosted cryptocurrency markets.