Bitcoin below 40 thousand dollars . the lowest level in the last 5 months

Bitcoin currency took heavy losses today, Friday, to drop below the $ 40,000 level, which is the lowest level. in 5 months.

The largest cryptocurrency has lost around 40% of its level record of $ 69,000 recorded last November. The bitcoin is in decline of 7.19%, trading at around $ 39,087.0 on Friday.

The drop came after the Russian central bank proposed a ban on the use and mining of cryptocurrencies on Thursday. Russia is one of the main mining sites of bitcoin in the world.

Bank of America believes cryptocurrency yields will decline after approximately 18 months, in light of the steep decline and expected volatility over the year in course with the end of the stimulus policies and the drop in liquidity, and therefore the inability of the markets to repay debts.

Barclays puts in also guard against investing in cryptocurrencies in 2022, considering that it carries too high a risk.

UBS has joined the warnings and believes that fluctuations in the cryptocurrency make it harmful, especially for small holdings, and that investors should calculate the adjusted returns behind these fluctuations. The bank recommends investing in financial technology company.

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