There is a tremendous drop in the price of Bitcoin and Ethereum, know what is going on

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This week is proving to be very volatile for Bitcoin. This cryptocurrency has also come down on Wednesday and has come to a halt at $40,000 (about Rs 29 lakh). This happened because now there are reports of China banning this cryptocurrency as well. At the same time, Tesla owner Elon Musk also expressed concern a few days ago about environmental damage from bitcoin mining.

Bitcoin (price in india), which is the world’s largest and most popular cryptocurrency, has fallen by 9 percent to $38,940.04 (about Rs 28.4 lakh). Its average speed is 200 points per day. But now it is going even lower than that. It is now down 40 percent from its year’s highest price of $64,895.22 (about Rs 47.3 lakh) on April 14.

On the other hand, the coin related to the Ethereum blockchain is Ether (price in india) has fallen by 15 percent to reach a price of $2,875.36 (approximately Rs 2 lakh).
The decline began after Musk tweeted last week that Tesla would no longer accept bitcoin as a payment mode. Then came other tweets that created the illusion that the company was covering up the holdings of this cryptocurrency.

On Tuesday, China announced that it was banning financial institutions and payment companies from providing services for cryptocurrency-related transactions. At the same time, a warning was also issued to investors regarding speculative crypto trading. As a result, sales boomed.

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