Skip to content

Bitcoin Extends Slide, Has Fallen More Than 50% From Record High

BBitcoin, the largest digital asset, extended its decline on Saturday, and is now down more than 50% from its record high in November.

Bitcoin’s decline since record-breaking has destroyed more than $ 600 billion in market value and more than $ 1 trillion out of the total crypto market. While there has been a significant drop in both Bitcoin and the overall market, according to Bespoke Investment Group, this is the second-largest drop ever in dollar terms for both.

With the Fed’s intentions to curb both cryptocurrency and stocks, an impressive theme has emerged in the digital-asset space: cryptocurrencies have twisted and turned almost exactly the same way they are in equities.

Bitcoin fell as low as 34,042 on Saturday, down 7.2%.

Leave a Reply

Your email address will not be published.