Mumbai: The value of the cryptocurrency is dropping sharply. In just one week … it dropped to $ 51,000. In Indian currency, Rs. 8 Lakhs to Rs. 41.24 lakhs. Bitcoin, the king of cryptocurrencies, reached an all-time high of Rs. 64,829.14, Rs 48.46 Lakhs. But now it’s down to $ 53,705.54 (around Rs 41,000). The value of the cryptocurrency fell in the millions in the past five sessions.

Hence the fall of Bitcoin …

Bitcoin was trading at $ 54,978.74 (Rs.41.10) at 11 am, according to Coindesk. Bitcoin and other cryptocurrencies have been known to be declining recently. However … there are many reasons for this. Bitcoin and other cryptocurrencies retreated after news that the US authorities have taken strict measures against the use of the cryptocurrency in illegal activities, and that the Turkish Central Bank has banned the purchase of cryptocurrencies and cryptocurrencies.

China’s decision …

It is believed that the Utern Bitcoin taken by China to add fuel to the current situation was a shock. Fuel is now recognized as an alternative investment to Bitcoin. This effect is at its peak for Bitcoin. It has already been said that the cryptocurrency can be subject to fluctuations at any time.

Other cryptocurrencies also fall …

Besides Bitcoin, other cryptocurrencies have also declined. Ethereum, XRP, the star has fallen. By the afternoon, Ethereum was down $ 2,123.13, XRP was down $ 1.28, and Stellar was down $ 0.488,306. Dozecoin only benefited. It increased 22.63 percent.