Bitcoin price has fall to as much as 17% to under $46000, see what happened to cryptocurrency.

Bitcoin price has fall to as much as 17% to under $46000, see what happened to cryptocurrency. 

Today's Bitcoin price, Bitcoin, fell as much as 17% briefly below $46,000, because inflation concerns will shake cryptocurrencies and technology stocks.

On Tuesday, Bitcoin prices plummeted for the second consecutive day, briefly falling below $46,000, and then recovered some prices, and investors speculated about the recent market rebound.

Bitcoin (BTC) fell to $49,179 at 7:55 a.m. EST on Tuesday, a record high of more than $58,000 on Sunday, but the Coinbase exchange fell by about 8.8% a day, but the trading fluctuated greatly. 

This is expected to achieve its biggest daily decline since the currency fell by about 13% on January 21. Bitcoin fell 17% to $44,888 on Tuesday morning, which will be the biggest drop since March 2020.

Bitcoin soared in 2021, and prices more than doubled this year to a record $58,376. The increased interest of large companies such as Tesla and record stimulus measures have boosted the rebound.

However, prices fell below $47,000 on Monday, but the U.S. technology giant NASDAQ index plunged 2.46% as market concerns about valuation rebounded. The expectation of stronger growth and inflation has also triggered a shift in the cheap sector of the market.

Slides accelerated on Tuesday when speculators abandoned highly volatile cryptocurrencies.

Treasury Secretary Janet Yellen's comments are another factor. She told CNBC that Bitcoin is extremely inefficient, and the amount of energy consumed to deal with these transactions is amazing.

She said, "I don't think Bitcoin... Widely used as a trading mechanism. Within the scope of use, I'm afraid it is often used for illegal financing.

Elon Musk's weekend review that Bitcoin and rival token ether "seems highly" is also a factor. Musk played an important role in cryptocurrency gatherings, and his words accounted for many Bitcoin lovers.

Ethernet (ETH) prices also plummeted, and the currency of the Ethereum network fell by about 19% to $1,520. XRP fell about 21%, while Binance's coin fell about 14%.

Pankay Barani, CEO of Delta, a cryptographic derivatives exchange, said that a reduction in Bitcoin and other currencies was imminent.

Some leverage has been removed, but the volatility should last for several games, and then merge BTC and ETH prices before the next increase.

Today's Bitcoin price - Bitcoin fell as much as 17% briefly below $46,000 because inflation concerns will pull cryptocurrencies and technology stocks | #Currency News | #Financial and #Business News