Bitcoin price has plummeted

The cryptocurrency market plummeted on April 18 from a record high it reached just a few days ago.

The bitcoin exchange rate fell by more than 11% to $55,533. Ethereum lost even more than 11%. During trading, the quotes of both cryptocurrencies decreased by 15-18%. Other cryptocurrencies also collapsed: BNB lost almost 12%, Chiliz - more than 16%, Filecoin fell by 15%.

According to Bloomberg, this is the strongest drop in bitcoin in more than seven weeks. On Wednesday alone, its price reached a record $64,869 amid a successful listing of Coinbase shares on Nasdaq. After the placement, its capitalization exceeded $100 billion.

The fall may be due to the fact that states are increasingly studying the risks of cryptocurrencies as the investor base expands, Bloomberg notes. According to the agency, investors' fears may be related to yet unconfirmed speculation about the possible launch of an investigation in the United States about laundering through cryptocurrencies.

Fed chief Jerome Powell compared investing in cryptocurrencies to gold last week, saying they are more for speculation than as a means of payment. The head of the ECB, Christine Lagarde, noted at the beginning of the year that bitcoin makes life easier for all kinds of criminals (cryptocurrencies allow “fun types of business” to exist and develop).