Growing Optimism Plunged Bitcoin Price to $17,682 a Coin

Following what seems like a strong backing for Pfizer and BioNTech COVID-19 vaccine by the United States Food and Drug Administration (FDA), the world’s most capitalised cryptocurrency coin, Bitcoin declined against the United States dollar amid rising capital outflow.

The digital coin that started exhibiting strong traits of haven assets during the peak of COVID-19 experienced capital outflow like Gold and few other haven assets immediately the UK approved Pfizer Vaccine and the US announced a meeting to consider the same COVID-19 vaccine for approval.

Bitcoin price declined by 2.60 percent in the last 24 hours to $17.682.46 per coin on Friday. Representing about $1,718 decline from $19,400 it traded in November.

Price of Ethereum depreciated by 2.87 percent to $538.53 per coin during the same period while Ripple and Stellar dipped by 4.85 percent and 6.69 percent to $0.5357 and $0.1560 per coin, respectively.

Meanwhile, President Vladimir Putin has signed an order mandating all public office holders to disclose their cryptocurrency holdings.

In a document signed on Thursday, both current civil servants and those about to resume office must disclose their digital assets as well as in what quantity and where they purchased them.