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One tweet was enough.  Bitcoin and other cryptocurrencies have fallen sharply

One tweet was enough. Bitcoin and other cryptocurrencies have fallen sharply

Investing in cryptocurrencies is slowly becoming mainstream, and creating a cryptocurrency wallet is almost as easy as opening a savings account with a bank. To be sure, it’s still not as safe as it might seem in the past few months, when Bitcoin broke one record after another – and other currencies followed suit.

Perhaps one unconfirmed tweet was enough to send Bitcoin down to $ 51,000 in an hour, and Ethereum fell below $ 2,000 for a while, wiping out about $ 290 billion from the cryptocurrency market at some point.

Tweet, which has supported the current decline in cryptocurrencies, has posted FXHedge’s Twitter account. The unconfirmed report states that the US Treasury Department plans to charge several financial institutions with money laundering using cryptocurrencies.

However, FXHedge’s account came in several times with unconfirmed reports, which were ultimately dismissed.

“If it looked like a duck, it probably was a duck,” says Dominic Strokal, an economist and author of books on cryptocurrencies. “It is imperative that the network per se be not affected in any way, although prices may be affected by the retaliation of state institutions. But it is always just a short-term bottleneck. In the long term, innovation can only be fought through another innovation, and sooner or later repression will lose. Sooner. “

“Apart from this unverified report, the decline was also partly in response to the sudden short-term shutdown of a large number of miners in China, especially Bitcoin, after a long steady growth, which clearly called for some technical correction. Some altcoins have spoken. On more about this, there has already been growth on the edge of the plate, “Strokal adds.

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