• About
  • Team
  • Advertise
  • Terms
  • Privacy Policy
  • Contact
INCPak
  • World
  • National
    • Islamabad
    • Azad Kashmir
    • Balochistan
    • Khyber Pakhtunkhwa
    • Gilgit Baltistan
    • Sindh
    • Punjab
    • FATA
  • Automotive
  • Tech
    • Tech News
    • Custom Roms
    • Tips & Tricks
    • INCPak Roms
    • Reviews
    • Phone Reviews
    • Stock ROMs
    • What’s new?
    • Computer Stuff
  • Business
  • Education
  • Entertainment
  • Information
  • Fashion
  • More
    • Fun Time
      • Kids Corner
      • Poems
      • Stories
    • Health
    • Editorial
    • Travel
    • Beauty
    • Food
    • Music
    • Movies
    • Sports
    • Documentaries
    • Personalities
    • History
    • Economy
    • Emergency Numbers
No Result
View All Result
  • World
  • National
    • Islamabad
    • Azad Kashmir
    • Balochistan
    • Khyber Pakhtunkhwa
    • Gilgit Baltistan
    • Sindh
    • Punjab
    • FATA
  • Automotive
  • Tech
    • Tech News
    • Custom Roms
    • Tips & Tricks
    • INCPak Roms
    • Reviews
    • Phone Reviews
    • Stock ROMs
    • What’s new?
    • Computer Stuff
  • Business
  • Education
  • Entertainment
  • Information
  • Fashion
  • More
    • Fun Time
      • Kids Corner
      • Poems
      • Stories
    • Health
    • Editorial
    • Travel
    • Beauty
    • Food
    • Music
    • Movies
    • Sports
    • Documentaries
    • Personalities
    • History
    • Economy
    • Emergency Numbers
No Result
View All Result
INCPak
No Result
View All Result

Bitcoin price drops below $40,000, lowest in 4 months

by Ali Gulrez
May 19, 2021
in Business, Technology
0

The price of the world’s largest cryptocurrency, Bitcoin, has dropped below $40,000 for the first time since early February as a result of China’s ban on crypto transactions, which was reported by Reuters on May 19.

Bitcoin price, Bitcoin
Bitcoin price drops below $40,000, lowest in 4 months.

The cryptocurrency was being traded around $39,500 – a more than 12% drop over the pervious 24-hours and a 40% fall in price since its all time high of $64,000 in April.

Tesla Founder and CEO, Elon Musk’s views on Bitcoin have been a major factor in the price drop of the cryptocurrency over the past one month, however, the crypto transaction ban introduced by China is one of the latest blows to the digital currency.

China has banned financial and payment institutions, including banks and online payment platforms from providing cryptocurrency related services and “warned investors against speculative crypto trading” stated Reuters.

The ban includes stopping services such as clearing and settlements, trading and even registration for cryptocurrencies.

This has impacted other major cryptocurrencies as well, which also continued to fall. Ethereum dropped below $3,000 for the first time since May 2, however, it did regain value a few hours later.

However, the CEO and founder of BitBull, a cryptocurrency hedge fund, was reported saying that the fall in the price of Bitcoin was consistent with its history of “higher highs and higher lows.”

He said that this was a natural consolidation period that is seen every year and it is necessary for the support lines to form for future appreciation.

Read more: Bitcoin price drops further after another tweet by Elon Musk.

Follow us on Facebook / Twitter / Instagram for updates.

Tags: bitcoinBitcoin PriceCryptocryptocurrency
ShareTweetSend

Related Posts

Banks, Tax Collection, Banks Extending Working Hours, SBP
Business

Banks to Observe Extended Working Hours on September 30 for Tax Collection

Sep 29, 2023
Meta AI, WhatsApp AI, Instagram AI, Messenger AI
Technology

Meta Launches AI Bots on WhatsApp, Messenger and Instagram

Sep 28, 2023
Closing Currency Exchange Rate in Pakistan, Currency Exchange Rate in Pakistan, Exchange Rate in Pakistan, Currency Rate, Closing Exchange Rate, Closing Currency Rate
Business

SBP Interbank Closing Currency Exchange Rates in Pakistan – 28 September 2023

Sep 28, 2023
Mobilink Bank and UN Women Join Forces to Champion Women's Financial Inclusion
Business

Mobilink Bank and UN Women Join Forces to Champion Women’s Financial Inclusion

Sep 28, 2023
GBP to PKR, British Pound to PKR, British Pound Rate in Pakistan, Pound to PKR, Pound to Pakistani Rupee, Pound Rate in Pakistan
Business

GBP to PKR – British Pound Rate in Pakistan Today – 28 September 2023

Sep 28, 2023
EUR to PKR, Euro Rate in Pakistan, Euro to Pakistani Rupee, Euro to PKR
Business

EUR to PKR – Euro Rate in Pakistan Today – 28 September 2023

Sep 28, 2023
OMR to PKR, OMR, Omani Rial, Omani Rial to PKR, Omani Rial to Pakistani Rupee, Omani Rial Rate in Pakistan
Business

OMR to PKR – Omani Rial Rate in Pakistan Today – 28 September 2023

Sep 28, 2023
Kuwaiti Dinar to PKR, KWD to PKR, Kuwaiti Dinar to Pakistani Rupee, Kuwaiti Dinar Rate in Pakistan, Kuwaiti Dinar
Business

KWD to PKR – Kuwaiti Dinar Rate in Pakistan Today – 28 September 2023

Sep 28, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

  • Banks to Observe Extended Working Hours on September 30 for Tax Collection
  • Messi-less Inter Miami Lose U.S. Open Cup Final
  • Meta Launches AI Bots on WhatsApp, Messenger and Instagram
  • Karachi Board Announces Matric 2023 Results
  • NEPRA Hikes Power Tariff for K-Electric Consumers
  • SBP Interbank Closing Currency Exchange Rates in Pakistan – 28 September 2023
  • Mobilink Bank and UN Women Join Forces to Champion Women’s Financial Inclusion
  • GBP to PKR – British Pound Rate in Pakistan Today – 28 September 2023
  • EUR to PKR – Euro Rate in Pakistan Today – 28 September 2023
  • OMR to PKR – Omani Rial Rate in Pakistan Today – 28 September 2023

INCPak Official logo

INCPak Official Logo
Independent News Coverage Pakistan (INCPAK) delivers the latest updated news on Current Affairs, Business, Sports, Entertainment, and Technology in Pakistan

Download apps

For daily gold rate updates, you can download our apps for Pakistan, United Arab Emirates, and Saudi Arabia (KSA) from the Google Play Store. We provide daily gold rate updates with historical data and a Gold Rate Calculator.

Gold Rate in Pakistan

Trending

  • Petrol Prices in Pakistan
  • USD to PKR Rates
  • MTMIS – Online Vehicle Verification
  • Ehsaas Program
  • Punjab Rozgar Scheme
  • Naya Pakistan Housing Program
  • Mera Pakistan Mera Ghar Loan
  • About
  • Team
  • Advertise
  • Terms
  • Privacy Policy
  • Contact

© 2023 Independent News Coverage Pakistan

No Result
View All Result
  • World
  • National
    • Islamabad
    • Azad Kashmir
    • Balochistan
    • Khyber Pakhtunkhwa
    • Gilgit Baltistan
    • Sindh
    • Punjab
    • FATA
  • Automotive
  • Tech
    • Tech News
    • Custom Roms
    • Tips & Tricks
    • INCPak Roms
    • Reviews
    • Phone Reviews
    • Stock ROMs
    • What’s new?
    • Computer Stuff
  • Business
  • Education
  • Entertainment
  • Information
  • Fashion
  • More
    • Fun Time
      • Kids Corner
      • Poems
      • Stories
    • Health
    • Editorial
    • Travel
    • Beauty
    • Food
    • Music
    • Movies
    • Sports
    • Documentaries
    • Personalities
    • History
    • Economy
    • Emergency Numbers

© 2023 Independent News Coverage Pakistan