The price of the cryptocurrency Bitcoin has fallen by more than a quarter from its historical peak, set less than six weeks ago.
This is reported by Bloomberg.
In which countries is cryptocurrency bannedCryptocurrency is completely banned in at least nine countries worldwide. For more details, see the infographic.On Friday, the price dropped to $79,627, reaching its lowest level since November 10.
Ether, the second-largest cryptocurrency in the world, decreased by 7.3%.
Bitcoin reached its historical peak of $109,200 on January 20, the day of the inauguration of U.S. President Donald Trump. However, since then, the price has been declining amid concerns over Trump's aggressive stance and fears regarding the U.S. economy.
According to Stefan von Henisch, the director of over-the-counter trading in the Asia-Pacific region at Bitgo Inc., traders are still waiting for Trump, who many view as a supporter of cryptocurrencies, to take concrete actions for the sector, including the establishment of a Bitcoin reserve.
It is worth noting that the price of Bitcoin surged to a historical high immediately after Trump's victory in the U.S. presidential elections. On December 5, the price of Bitcoin first exceeded the $100,000 mark.
The list of countries where cryptocurrency is banned can be found in the "Word and Deed" infographic.