Bitcoin, the world’s top-ranked cryptocurrency, has dropped by nearly 7.5 per cent in the last day.
At the start of last month, bitcoin was trading at US$36,141.33 (A$52,000), according to CoinMarketCap.
But now, a month and a half later, the outlook is even worse.
As of Sunday morning AEDT, bitcoin fell as low as $US17,601.58 (A$25,300) and stayed below $US20,000 according to CoinDesk. It is currently trading at US$18,900 (A$27,200).
That’s a loss of about 15 per cent from Friday, and represents a whopping 74 per cent dip in value since its all-time high in November when it nearly hit US$69,000 (A$99,000) per coin.
In fact, all bitcoin’s gains over the last two years of the pandemic have pretty much been wiped – BTC hasn’t been this low since October 2020.
Eulogy made by Lynsey Barber Et al.