Bitcoin has recorded its largest monthly loss since June 2022, pushing it into a bear market as the euphoria over cryptocurrencies after Donald Trump’s election win faded.
The price of bitcoin fell by 17.5% in February, the biggest monthly drop since June 2022, and its eleventh worst month in the last decade, as risk-off sentiment gripped financial markets.
The world’s largest crypto asset ended February at about $84,252 (£67,010), having hit a three-month low of about $78,273 during trading on Friday.
Bitcoin has now dropped more than 20% below the record high of $109,071 set in mid-January, which puts it into a technical bear market.
So then why are the only people ising Bitcoin to move large amounts of money scammers and criminals? It’s a hassel to move large amounts of money from one country to another because the stakes are so high and everyone involved wants to make sure it is done properly. You wouldn’t send the down payment for a house or car via cash in the mail, so why would you do the online equivalent?
You can use Bitcoin to buy food and small things as well. No, actually scammers and criminals are among the minority of people that use Bitcoin. Many people use Bitcoin for their daily needs.
Stakes are high? I don’t think so. The problem is politicians, the hundreds of worthless currencies that exists and the expensive banking cartel with its high fees. People should have the freedom to move their money as they wish, because it’s their money.
You can actually buy houses using Bitcoin, I don’t understand why you wouldn’t do that.