Weekend drop in bitcoin, Downward momentum continued at the end of the week in Bitcoin, which fell sharply during the week. Six of the $ 44k level was tested in Bitcoin in the morning on Sunday. The 3-day drop in cryptocurrency reached 6 percent.

As Bitcoin enters the post-rally downward momentum created by Elon Musk, another critical level of downside has been tested in cryptocurrency.

The decline in Bitcoin, which had fallen close to 20 per cent over the week, continued at the end of the week, with six of the $ 44k tested by morning on Sunday. Thus, the 3-day drop in cryptocurrency reached 6 percent.

Along with the acceleration of the decline in Bitcoin prices in the cryptocurrency market, news of the IPO of exchanges has also come to the agenda recently. Cryptocurrency exchange Coinbase submitted an IPO application, while the IPO application included notable assessments of the cryptocurrency market.

Weekend drop in bitcoin
Weekend drop in bitcoin

For the cryptocurrency market, Tesla boss Elon Musk‘s statements have been described as a risk, while crypto exchange Coinbase, which filed for an IPO, has identified Satoshi Nakamoto, the mysterious creator of Bitcoin, as an element of risk.

In public filing documents, Bitcoin prices may decline if the mysterious creator is revealed. In addition, the documents also mentioned the possibility of Nakamoto divesting his Bitcoin portfolio, which is estimated to be worth more than 1 million, as an element of risk. There were also warnings that the mysterious creator’s removal of bitcoins in his hands could destabilize the market. Nakamoto’s Bitcoins account for 5 percent of the market.

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