Bitcoin Continues to Drop Over 50% from Nov High
Sushmita Goswami | Jan 23, 2022 |
Bitcoin Continues to Drop Over 50% from Nov High
Bitcoin, the most valuable digital asset, continued to fall on Saturday, losing more than half of its value from its November high.
Since breaking the milestone, Bitcoin has lost more than $600 billion in market value, and the total crypto market has lost more than $1 trillion. According to Bespoke Investment Group, this is the second-largest ever fall in dollar terms for both Bitcoin and the aggregate market, despite considerably higher percentage declines.
With the Fed’s plans shaking both cryptocurrencies and stocks, a recurring narrative in the digital-asset world has emerged: cryptos have twisted and turned almost identically to equities.
Bitcoin sank to $34,042 on Saturday, a 7.2 percent decline.
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