Given the drop this Tuesday in the price of Bitcoin by 12% and consequently there were losses of more than US $ 10,000 in its price in less than two days, going from US $ 58,350.00 to US $ 45,300.
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We wonder once again if this is consequences of the statements made on Monday 02-22-2021 in a virtual event of The New York Times by the Secretary of the Treasury of the United States, Janet Yellen, where she stated:
"I don't think bitcoin is a widely used transaction mechanism"
On the other hand, Bill Gates, Founder of Microsoft and one of those who has shown little or no admiration of him for cryptocurrency, stated:
"Bitcoin is too speculative and anonymous."
As he referred to the investments made by Elon Musk:
“Elon has tons of money and he's very sophisticated, so I'm not worried about his Bitcoin going up or down randomly. But I think people get carried away by these manias, that they may not have so much money to spare. So I'm not bullish on Bitcoin, and my general thinking would be that if you have less money than Elon, you should probably look out. "
A start to the week with the collapse of the cryptocurrency, with as much or greater speed as the behavior it had at the beginning of the month, when it registered one of its largest exponential growth.
This happens when Tesla invested $ 1.5 billion in Bitcoin and later Mastercard and BNY Mellon Bank announced their plans to accept the cryptocurrency as payment for their services.
Parts of the statements made by Janett Yellon, addressed this issue, stating: "bitcoin continues to be established as a payment method and is an extremely inefficient way to carry out transactions."
A combination of facts that have not favored Bitcoin in the market, causing a decline that can cause nervousness in small investors.
Additionally, as a result of the decline in Bitcoin, Tesla shares fell by 8.6% and Elon Musk ceased to be the richest man in the world by losing $ 15.2 billion of his assets.
To all of the above, I ask myself:
This happens when Tesla invested $ 1.5 billion in Bitcoin and later Mastercard and BNY Mellon Bank announced their plans to accept the cryptocurrency as payment for their services.
Parts of the statements made by Janett Yellon, addressed this issue, stating: "bitcoin continues to be established as a payment method and is an extremely inefficient way to carry out transactions."
A combination of facts that have not favored Bitcoin in the market, causing a decline that can cause nervousness in small investors.
Additionally, as a result of the decline in Bitcoin, Tesla shares fell by 8.6% and Elon Musk ceased to be the richest man in the world by losing $ 15.2 billion of his assets.
To all of the above, I ask myself:
Will the decline of Bitcoin stop in the next few days?
Or will we continue to see this fall for much longer?
Referential Sources
Semana.com Bill Gates hace dura crítica sobre el bitcóin. Esto dijo de la criptomoneda
Market Watch. com Treasury’s Yellen criticizes bitcoin again as ‘inefficient’ and highly speculative
Marca.com Elon Musk pierde 15.200 millones en un día y deja de ser el hombre más rico del mundo