Bitcoin Declines To $31,000

• On Thursday, the price of Bitcoin declined to $31,534 after reaching the all-time high price of $42,000 on January 8, 2021.

• According to the traders, the fall in price occurred after the Head of the US treasury Janet Ellen expressed her concerns that cryptocurrencies could be used to finance illegal activities.

• "I think many are used, at least in a transactions sense, mainly for illicit financing, and I think we really need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels," she said.