Bitcoin Plummets to $44,900, losing $10,000 But Is Recovering

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Tue, 02/23/2021 - 09:33

Yuri Molchan

Major digital currency has plunged by $10,000 in just several hours but it is coming back upward

Bitcoin Plummets to $44,900, losing $10,000 But Is Recovering

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The world's flagship cryptocurrency, Bitcoin, has plunged to the $44,900 zone within just several hours, from the $54,000 area, losing around $10,000.

By now, Bitcoin has printed a green candle and is recovering. BTC is changing hands at $47,965 at press time.

BTC_098765_56778 — Image via TradingView

On Monday, treasury secretary Janet Yellen slammed Bitcoin by calling it totally inefficient for conducting transactions.

Bitcoin Tanks to $47K as Janet Yellen Calls It "Extremely Inefficient"

The biggest corporations, such as Tesla and MicroStrategy, are showing deep interest, with both having allocated over $1 billion of their shareholders' money in the king crypto recently.

#Bitcoin News

About the author

Yuri Molchan

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.