©Reuters. Bitcoin continues to be affected by the terra crash and falls 5% in the week
Madrid, May 20 (.).- The , the best-known cryptocurrency and the one with the greatest weight in the market, has lost 5.3% this week and accumulates a decrease of 23.4% since the beginning of May affected by the crash from last week of the terra and luna cryptoactives.
According to Bloomberg data collected by Efe, bitcoin is trading around 5:00 p.m. at about $29,200 per unit, 3.3% less than the day before and 5.3% below Monday’s price.
The bitcoin sank last week infected by the collapse of the stable cryptocurrency terraUSD, which in turn affected another digital asset to which it is linked (moon), and came to change at 25,400 dollars, its lowest since December 2020.
In the last two weeks it lost 14.2%.
The person in charge for Spain of Bitpanda, Alejandro Zala, believes that the cryptocurrency “could be finding its ground” after the events of terra, although he recalls that digital assets are moving in sync with traditional stock markets, very affected in recent months. by changes in monetary policy and factors such as the war in Ukraine.
Last week’s crash has caused sell-off and panic reactions that are still ongoing in the crypto-asset market, it adds in its weekly report.
Swiss bank investment chief Julius Baer (SIX:), Yves Bonzon, considers that current events mean for crypto assets “the equivalent of the internet bubble of the year 2000”.
“The utopia phase is ending and will give way to a less noisy stage, of penetration of asset encryption technologies in a transformation process that will imply convergence with the centralized and regulated financial system,” it states in a report.