Cryptocurrencies have long since arrived in the mainstream, as demonstrated by Coinbase's successful IPO recently. But Bitcoin and Co. are and will remain volatile matters, as only became apparent last weekend.
Rumor triggers a fall in the share price
Bitcoin and Ether are currently the best-known cryptocurrencies and they have known one direction in particular for weeks and months: up. But over the weekend it became clear that this type of investment is still associated with significant risks. Bitcoin had to experience a (temporary) crash on the weekend that was tough.
Because Bitcoin lost almost 14 percent of its value within an hour and crashed from 60,000 to 51,000 dollars. Last week, the rate was now almost $ 65,000. Ether, number 2 among the cryptocurrencies, also collapsed, here it even went down by 18 percent.
The reasons for this price nervousness are varied: There were rumors that the US Treasury wants to target financial institutions to investigate allegations of money laundering. The ban on cryptocurrencies in Turkey could also have played a role, albeit only a small one, because it became known at the end of last week and should have been history again in the fast-moving world of Bitcoin and Co. at the weekend. In the meantime, Bitcoin has climbed back to $ 56,500 and Ether (slightly) to just under $ 2,170.
Dogecoin was also affected to some extent by the turbulence on the market, but the "fun currency" continued to soar. On Friday and today, it reached 43 and 42 cents respectively. That sounds like little, but the currency, which is thought of as satire and has neither an area of the application nor a foundation, came to a total market value of at times 50 billion dollars.
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