Bitcoin and the impact of its decline on car prices

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In recent months, the world has witnessed a significant decline in Bitcoin and the rest of the cryptocurrency.

 Which came after major events in the world, and on top of these events is the Corona pandemic.

 But in this period of the Corona pandemic, the honorable currencies were not affected much, but were almost stable.

 As for the car industry globally, the car industry was almost stagnant, as a result of the closure of some factories, either almost completely or partially due to the pandemic.

 And when the world began to recover economically from this pandemic, Russia started a war on Ukraine, which led to catastrophic results for the world of the modern auto industry.

 And because Russia and Ukraine are the exporters of many car components, which amount to about 45% globally, so there was a huge impact on  .this industry

 Which led to a significant increase in

 the prices of modern and used cars as well.

  What added to this rise was the decline of the bitcoin currency and with it the rest of the cryptocurrencies due to the large amount of investment in the automotive world, the price of bitcoin today reached about 18 thousand dollars.

 After the price of one bitcoin eight months ago was about 69 thousand dollars.

 Therefore, the auto industry in the world is exposed to very large losses if governments do not intervene to save this industry from collapse.