Bitcoin price collapsed: Cryptocurrency: Economy:

Bitcoin price plummeted by almost seven percent during trading on Wednesday, October 27th. At 11:09, one coin was giving $ 58,132 (minus 6.9 percent compared to the opening of the trading session). At 11:30, Bitcoin was trading at $ 59,000.

On October 20, the bitcoin rate broke a historical record, having risen to almost 66 thousand dollars apiece. Aaron Chomsky, head of the fund’s investment department in the ICB Fund crypto asset market, admitted that the bitcoin rate could rise to $ 100,000 by the end of the year due to rising inflation around the world.

At the end of October, American billionaire investor Paul Tudor Jones announced that Bitcoin protects against inflation better than gold. Over the past year, gold has fallen in price by eight percent, while bitcoin is up 437 percent.

In October, the Mastercard payment system announced the possibility of paying with cryptocurrency through a partnership with the Bakkt platform. For cryptocurrency holders, the company has promised to launch a special loyalty program.