Bitcoin crash: Here's why the cryptocurrency prices are falling
Zee News
In the last five days, Bitcoin prices have dropped by close to 10% to a near three month low.
New Delhi: In the last five days, Bitcoin prices have dropped by close to 10% to a near three month low. On Friday, the cryptocurrency slumped as much as 5% on Friday, January 7, to its lowest since late September.
Since November, when Bitcoin touched a record high of $69,000, the cryptocurrency has lost more than 40%. The volatility that has plagued Bitcoin since its inspection 13 years ago apparently remains stubbornly present.
One of the major reasons behind the fall is the broader sell-off for cryptocurrencies driven by concerns about tighter US monetary policy. The cryptocurrency was trading at about $41,704 on the back of US payrolls data fuelled some bargain buying, Reuters reported.
