The Bitcoin price has fallen since Wednesday last week and is since the peak in mid-April down 28 percent.
The digital cryptocurrency is seen by many as a form of digital gold – a safe haven in turbulent times. But recent developments in the course tell a different story, according to analysts.
“Bitcoin tells us that the risk sentiment in the market is changing. And we care about bitcoin because we care about risk sentiment “, writes Michael Kramer in Motts Capital.
He believes the development we are seeing can show that the market signals a fall in risk appetite in the market.
Not sold
In mid-April, the bitcoin price stood at $ 64,829.14 per share. unit – a preliminary peak.
On Sunday, Tesla CEO Elon Musk sent out a Twitter message implying that Tesla had sold bitcoin.
“Bitcoin owners will be annoyed when the next quarters find out that Tesla dumped the rest of its bitcoin holdings. With all the hate @elonmusk gets, I can not blame him…
Shortly afterwards, Elon Musk responded with one word: “Indeed.” It sent the bitcoin price down 20 percent in a short time.
Monday morning around eight o’clock, however, Musk sent out another message on Twitter:
