Bitcoin hits lowest price since December 2020

Maite Knorr-Evans BITCOIN The fall of

[{"selector":"#anim-f270ea0b-63c2-401b-9623-2dd6e74eae3c","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e51f12e-2c78-454f-b0d1-dfba82062d18 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.31135522225877%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] When the covid-19 pandemic struck, consumers moved online, prompting historic interest in cryptocurrency.

[{"selector":"#anim-e813ba2d-b72c-4954-9a41-d9b9f31d7c17","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2171044d-8fca-4fa0-ba6a-0c01ce093a44 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(61.30681794702946%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] In 2020, bitcoin's value more than quadrupled from $6,500 to $26,400.

[{"selector":"#anim-88aff7a6-a9bb-4a21-abfb-23f49b48ab90","keyframes":{"transform":["translate3d(0px, -162.47722%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1142e7dc-b25c-4507-a166-58ba0f78eb3d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(26.136363491560015%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] In January 2021, Tesla CEO Elon Musk tweets ""In retrospect, it [bitcoin] was inevitable."

[{"selector":"#anim-dc5faafd-a59f-4b2c-b165-ae0d2063c555","keyframes":{"transform":["translate3d(0px, -141.97533%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-054fc71e-960d-42d9-8732-7877dccdb4c8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(29.663754959346182%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":8000,"fill":"both"}] February 8 Musk announces that Tesla will acquire $1.5 billion in bitcoin and accept the crypto as payment

[{"selector":"#anim-512c05d1-fdc5-41c1-bb80-b6b60856eb50","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eff2570b-d4a9-4c41-a998-e4d5c885b37f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(44.533370083490524%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] A little over a month later the price of bitcoin hits $50,000 for the first time

[{"selector":"#anim-68060051-52c3-4d4f-b349-46c8785a1634","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f0166c4-8ad8-460e-a1d7-7706e52ce367 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(63.17503317138914%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] In May, Tesla reverses its decision to accept the crypto as payment citing environmental concerns

[{"selector":"#anim-c3d42037-527f-4a59-94a3-563e76fad7b5","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3ceec2b7-03af-4a25-b624-78cb645411da [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(61.261448607748505%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] The value of bitcoin plummets, losing all gains made since January

[{"selector":"#anim-57e7b4ee-b638-4e4c-8789-f72ee5398b5b","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3cc88db6-da6c-4c96-8800-876a8c900333 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-18.21022707982817%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] In June, El Salvador makes bitcoin the country's legal tender, followed by domestic and international condemnation

[{"selector":"#anim-6dec1d63-98db-4144-a94c-a1b5cfccd673","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f3adeb98-a92c-4daf-8572-f298c37dad00 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(56.4832086104161%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] Greater interest in cryptos, including NFTs, led the bitcoin price increase to $58,000 per coin in November 2021

[{"selector":"#anim-c4b4b3be-232e-44a5-8c9a-d5dfc3138914","keyframes":{"transform":["translate3d(0px, -173.13296%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cfc2d8b7-a38b-4264-b259-b022b7898741 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(9.733929532053105%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] Very quickly the price begins to fall as investors lose faith in NTFs and scrutinize fraud within the crypto market

[{"selector":"#anim-634c168f-b6eb-48d6-931a-57d2e802fd08","keyframes":{"transform":["translate3d(0px, -169.0346%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ab012074-5a5b-43e5-be94-e33bded15cd1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(41.289009476170676%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] Bitcoin price falls to $31,324 after the collapse of Terra the UST stablecoin experiment in late May

[{"selector":"#anim-24493543-c3ed-4c24-bbcf-905cc6fb125e","keyframes":{"transform":["translate3d(0px, 172.31330%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f6e12d39-9ff7-4bc2-9166-c98130dcade6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(52.66621448030687%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] This week the Celsius Network, a crypto-loan company, paused all trades leading bitcoin to fall under $20,000 per coin

[{"selector":"#anim-b8ba219d-384b-42bc-9c3b-0cab55dcc5b4","keyframes":{"transform":["translate3d(0px, 192.83001%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9060903d-29b2-4e9d-9f29-a914d22c9be2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-48.31135522225877%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":6000,"fill":"both"}] Cryptocurrencies: when was the last time the Bitcoin price dropped below $24k? What are the reasons?