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The expert told why bitcoin is getting cheaper




MOSCOW, 22 Jan – PRIME. The fall in the price of the most popular cryptocurrency, bitcoin, is most likely due to the active profit taking by large investors, Gleb Kostarev, director of Binance (the largest exchange in terms of cryptocurrency trading volume) in Russia, told RIA Novosti. On Friday, the value of the cryptocurrency dropped below $ 30,000 for the first time since January 5. According to the CoinMarketCap portal, which calculates the average price for more than 20 exchanges, as of 09.50 Moscow time, the cost of bitcoin fell by 7.84% – to $ 31,721. On Binance, the largest cryptocurrency exchange in terms of trading volume, bitcoin fell by 9.2% to $ 31,530. The dynamics everywhere is given in a day. Russia got a chance to gain a foothold in the Asian oil market “Most likely, this (bitcoin downward correction – ed.) Is due to active profit taking by large investors, since the current volatility is difficult to link with the correlation to the macroeconomic situation in the world “, – Kostarev commented. The expert noted that traditional markets, for example, the leading American stock indices S&P 500, NASDAQ and Dow Jones, closed with positive dynamics after the inauguration of the new US president. “Traditional investors are hoping the new administration will focus on implementing stimulus measures for the economy hit by the pandemic,” he said. Bitcoin soared in value in the second half of December. On December 16, the cryptocurrency surpassed its all-time high of $ 20,042 since 2017, and has since more than doubled it. On January 8, Bitcoin set another historic record of $ 41,950, after which it rolled back down.

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