Triggers for the fall of bitcoin and alts

Triggers for the fall of bitcoin and alts

1. Elon Musk, when discussing cryptocurrencies, announced their overvalued rate.
2. Ethereum collapse to $ 700 on the Kraken exchange
3. Microsoft co-founder Bill Gates urged potential investors not to follow the example of Tesla, which invested $ 1.5 billion in Bitcoin.
4. US Treasury Secretary Janet Yellen criticized bitcoin, claiming the high energy consumption of miners and the lack of efficiency in transactions. She worries about potential losses for investors

Bounce trigger

Cryptocurrency exchange Bitfinex decision and the issuer of stablecoin USDT Tether state prosecutor resolved the conflict with the state prosecutor -York (NYAG) in the case of the company's financial transactions related to the loss of $ 850 million. They will pay a fine in the amount of $ 18.5 million. The prosecutor's office demanded that Bitfinex and Tether stop all trading activities with New Yorkers. The companies got off easy, that's why the growth in alts is observed.

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