OREANDA-NEWS. Gleb Kostarev, Director of the largest cryptocurrency exchange Binance by trading volume in Russia, explained the reason for the decline in the value of bitcoin. The financier believes, that a small decline in the price of bitcoin may be due to critical remarks about cryptocurrencies from the candidate for the post of head of the US Treasury Janet Yellen. At the same time, he stressed, that investors are still positive about the long-term prospects of bitcoin.

This was discussed in his interview with RIA Novosti. Kostarev added, that yesterday another cryptocurrency, Ethereum, reached its historical price high of $1 428. Ethereum outpaces Bitcoin in growth rate.

Bitcoin soared in price in the second half of December 2020. The cryptocurrency exceeded the historical maximum of $20 042, which was held since 2017, but on January 8, bitcoin doubled in price — to $41 950, but then began to adjust significantly. Over the past day, bitcoin has lost about 2.64 % and is now trading at $35 469. Bitcoin accounts for 68.3% of the global cryptocurrency market.