Alttekwin down from the highest level in 5 months by correction and profit-taking

The digital currency "pettecon" fell on spot trade on Tuesday for the first time in five days, dropping from the highest level in five months, with marked activity for correction and profit taking, but prices remain so far above the psychological barrier at $ 5,000 per unit, Is positive for the continued bullish market for the largest currency transactions in the world.

On the Bettstamp stock exchange, by 0815 GMT, the greenback was trading around $ 5,193, down $ 95, or 1.8%, at $ 5,288 opening at $ 5,289 and a low of $ 5,141.

Yesterday, Bettkin gained 1.9%, its fourth daily gain in a row, recording a five-month high of $ 5,347 per unit, with strong demand for the world's largest currency.

"Alttequin" rose by 27% over the course of last week, the seventh consecutive weekly gain, and the biggest weekly gain since February 2018, with the entry of large demand on the currency move prices on a large scale.

The market value of digital currencies on Tuesday fell by more than $ 4 billion to $ 179 billion, with most of the major currency prices falling in the market.

The total value of digital currencies yesterday reached the level of $ 186 billion, which is the highest level since last November.

After the recent bullish move, some analysts at Bloomberg predicted that there would be price saturation levels at present that would lead to price deflation for several weeks.

In addition to the correction and profit-taking exercises, the Chinese government wants to ban mining activities according to the draft list of industries submitted by the National Development and Reform Commission on Monday.

The agency is seeking public opinion on the industries it wants to promote, restrict or remove since 2011, and the agency will receive comments until May 7.

China is the world's largest market for encrypted currency mining equipment, although these activities are illegal in the country.

Although the Chinese agency's own list does not contain a target date or plan to eliminate the encoded currency modification, it does reflect the negative attitude of government authorities towards digital assets and related activities.


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