The price of the digital currency Bitcoin fell sharply on Wednesday, giving up significant gains from the previous day. In a short time, the price fell by more than nine percent in midday trading from around $46,000 to a daily low of $41,110. Bitcoin was last traded at $42,500.
On the first trading day of the year, speculation about the approval of a Bitcoin ETF by the US Securities and Exchange Commission (SEC) pushed the oldest and best-known digital currency above the $45,000 mark for the first time since April 2022. The SEC has until January 10th to decide on the fund that will invest directly in Bitcoin.
Experts point out the dangers of strong price fluctuations in Bitcoin. In November 2021, the price of the digital currency rose to a record high of just under $69,000.