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Cryptocurrencies have fallen sharply, with Bitcoin dropping below $ 50,000

Cryptocurrencies are dropping badly today, with Bitcoin already falling below $ 50,000 in today’s trade. The fall is partly due to the fact that it’s from one moment to the next One of Turkey’s popular cryptocurrencies has been closedThodex, which serves hundreds of thousands of users, is inaccessible, and investors cannot access their accounts or funds or close their positions. The founder and CEO of the company has left the country, customer service at the stock exchange is not available.

Meanwhile, the fact that Joe Biden is planning a large increase in the capital gains tax could have a negative impact on market sentiment. A senior analyst at Oanda said Bitcoin is more sensitive to the risk of a capital gains tax increase than most asset classes. According to the expert, the risk of regulation – directly in developed markets or indirectly through taxes – has always been the Achilles’ chord of cryptocurrencies.

Bitcoin is down 3.7 percent today, to more than 23 percent from its historic high.

Not only is Bitcoin, but other cryptocurrencies are also dropping today, as the price of Ethereum is down 4.3 percent.

The popular Dogecoin recently also fell sharply today, with the list down 38.7 percent today.

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