Crypto Asset Prices Decline and Bitcoin Drops 11 Percent in a Week

Rancakmedia.com – Pada perdagangan hari ini, Rabu (17/11/2021), Harga aset kripto menurun dan Bitcoin turun 11 persen. Menurut Coinmarketcap, bitcoin price plummeted below US$60,000 to US$58,895 per chip, or around Rp. 836.39 million (exchange rate Rp. 14,200).

The price of bitcoin has compared 4.93 percent compared to the previous day. Meanwhile, the price of bitcoin has compared 11.60 percent compared to a week ago.

In fact, just a week ago, the price of bitcoin was on the verge of breaking through to a new high in the area of 68,000 US dollars per chip, or Rp. 1 billion per chip. Bitcoin prices fell, and other cryptocurrencies followed suit. Consider ethereum, which is currently trading at around 4,112.78 US dollars per chip after today's 5.8% correction.

Rp. 58.40 million is equivalent to this amount. Meanwhile, the price of ethereum has compared 12.83 percent compared to a week ago. Other crypto assets, such as Solana, also experienced a significant decline, falling 6.61 percent to US$214.48 per chip, or around Rp. 3.04 million per piece.

In the last week, the price of polka dots fell 21.98 percent to around US$39.35 per piece or Rp. 558,770. Meanwhile, the price of polkadot experienced a correction of 6.26 percent compared to the previous day.

The price of bitcoin and other crypto assets was previously claimed to be under pressure due to the Chinese government's stance on limiting crypto asset mining activities.

Local authorities, according to CNN, consider crypto mining highly unsafe and a threat to the country's efforts to reduce carbon emissions.

Meng Wei, spokesperson for the National Development and Reform Commission (NDRC), warned at a press conference today in Beijing about the dangers of bitcoin mining. Bitcoin mining, he said, uses a lot of energy and emits a lot of carbon dioxide.

Conclusion

The price of the crypto asset bitcoin decreased below US$60,000 to US$58,895 per chip, or around Rp. 836.39 million (exchange rate Rp. 14,200). Just a week ago, bitcoin was on the verge of breaking new highs in the area of 68,000 US dollars per chip.

Other crypto assets, such as Solana, also experienced significant declines, falling 6.61 percent to US$214.48 per chip. In the last week, the price of polka dots fell 21.98 percent to around US$39.35 per piece or IDR 558,770.