The value of bitcoin fell by as much as 10.2 percent on Wednesday morning. and hit its lowest level since early February, writes Reuters. Another cryptocurrency also experienced declines.

More than a month ago, bitcoin hit an all-time high of $ 64,895. On Wednesday morning, its value was over 40%. lower. The exchange rate dropped to the level of 39 thousand. dollars. Bitcoin is not the only cryptocurrency in decline. Ether, the second most popular, was losing as much as 15.5 percent on Wednesday. and is one-third lower than the peak (almost $ 4,400) it reached last Wednesday. The value of the currency was below 3,000 on Wednesday morning. dollars. China on Tuesday banned financial institutions and companies from providing services related to cryptocurrency transactions.

Last week, Tesla suspended the ability to pay for vehicles with the bitcoin cryptocurrency. As the head of the concern Elon Musk explained on social media, the decision is related to concerns over climate issues. Maintaining the network of this most popular digital currency consumes enormous amounts of energy. Bitcoin is one of the most popular cryptocurrencies in the world. The currency gained popularity primarily in China, Europe and the United States. The system of these operations can function without the need for centralized turnover management. Its originator is a person under the pseudonym Satoshi Nakamoto. Cryptocurrency is digital money created on the basis of an algorithm. Digital currencies operate outside of traditional banking and government systems.

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