Bitcoin, a cryptocurrency that once reached a value of more than RM500,000 last year, is now continuing to decline, and recently recorded a value below RM300,000.
Many analysts say investors are choosing to withdraw money from Bitcoin, and invest in gold which is showing an increase, not to mention political and macro-economic uncertainties. Some parties are targeting the value of Bitcoin to continue to decline. The decline in the value of Bitcoin cryptocurrency is also affecting the market and the value of other cryptocurrencies in the market.
At present, it is not known when the cryptocurrency market will rise again like last year, and many are targeting that cryptocurrencies are now in a “bear” market.
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BUSINESS & MONEY
