Bitcoin Drops Below $40,000

Bitcoin continued to fall in a continuous wave of volatility for a week, retreating below the $40,000 barrier, as news of further restrictions on cryptocurrency transactions in China exacerbated previous concerns raised by tweets from Tesla President Elon Musk.

Bitcoin fell, about 8%, to up to $ 38,700, to be also below the 200-day average of its movements.

The cryptocurrency has retreated 40% from its highest level this year of 64 thousand and 895.22 dollars, which it reached on April 14th.

Ethereum, the currency linked to the Ethereum blockchain, was down about 15% to $ 2,875.36.