The price of the most popular cryptocurrency, Bitcoin, has collapsed by almost half compared to its yearly maximum. On Sunday, May 23rd, Bitcoin lost 13 percent against the background of a general sell-off of cryptocurrencies. By Monday morning, he was able to win back the fall a little and now costs 36.404 thousand dollars per coin.

“Indeed, bitcoin is making serious and dizzying fluctuations,” said expert Amy Wu.

Earlier in May, the bitcoin rate fell by a third against the background of the decision of the Chinese authorities: the People’s Bank decided that any cryptocurrencies cannot be used in the country as a method of payment. Another factor that negatively affected the value of bitcoin was the recent statements of the founder of Tesla and SpaceX Musk. He announced that Tesla is preparing to sell or has already sold its crypto assets, which were valued at $1.5 billion.