The world’s biggest cryptocurrency has lost over 40% since hitting a record high of $69,000 in November and the volatility that has plagued it since its birth 13 years ago remains stubbornly present.
Bitcoin was last down 3.7% after touching $40,938, its lowest since Sept. 29. LONDON – Bitcoin on Friday slumped as much as 5% to its lowest since late September, tumbling under $41,000 amid a broader sell-off for cryptocurrencies.
Bitcoin was last down 3.7% after touching $40,938, its lowest since Sept. 29. The world’s biggest cryptocurrency has lost over 40% since hitting a record high of $69,000 in November and the volatility that has plagued it since its birth 13 years ago remains stubbornly present.
The global computing power of the bitcoin network has dropped sharply this week following the shutdown of Kazakhstan’s internet as an uprising hit the country’s fast-growing cryptocurrency mining industry.
Did you Know?
Sotheby’s has sold $65 million of NFTs in 2021, while arch-rival Christie’s has sold more than $100 million of the new type of crypto asset
View Details »
Bitcoin has also been under pressure after minutes from the latest U.S. Federal Reserve meeting, released on Wednesday, appeared to lean toward more aggressive policy action, sapping investor appetite for riskier assets.
“We are seeing broad risk-off sentiment across all markets currently as inflationary concerns and rate hikes appear to be at the forefront of speculators’ minds,” said Matthew Dibb, COO of Singapore crypto platform Stack Funds.
“Liquidity in BTC has been quite thin on both sides and there is risk of a retreat back to the mid-30’s on the short term.”
Ether, the second largest token by market cap, fell as much as 8.6% to $3,114, its lowest since Oct. 1.
Crypto Returns Calculator
0x1inchAaveAdExAirSwapAlgorandAnkrAugurAvalancheAxie InfinityBancorBand ProtocolBasic Attention TokenBinance CoinBitcoinBitcoin CashCOTICardanoChainlinkChilizCivicCompoundCosmosCurve DAO TokenDFI.moneyDIADaiDashDecentralandDigiByteDogecoinEOSElrondEnjin CoinEthereumEthereum ClassicFetch.aiFilecoinGASGalaGolemIOSTIndian RupeeInternet ComputerKyber NetworkLitecoinLivepeerLoopringMakerMetalNEMNEONKNNanoNumeraireOmiseGOPax DollarPolkadotPolygonPower LedgerQuantstampQuarkChainRepublic ProtocolRequestRippleShiba InuSolanaStatusStellarStorjSushiSwipeSynthetix Network TokenTerraTetherTezosThe GraphThe SandboxTheta FuelTheta NetworkTronTrue USDUSD CoinUniswapVeChainWavesZilliqaaelfdistrict0xiExec RLCyearn.finance
Bought on₹Current Value₹ Buy
Pick the best companies to invest
BECOME AN ETPRIME MEMBER