As the week came to an end, Bitcoin was looking (little) better. The price then plunged once more.
BTC fell back below the $40,000 price barrier after achieving slight gains on Thursday to reclaim its position above $43,000. According to CoinMarketCap, it didn’t stop until it reached $38,592, its lowest price since August 2 of last year.
Bitcoin is not alone in seeing an 11% drop. Over the previous 24 hours, Ethereum has lost 8% of its value, Binance Coin has lost 10% of its value, and Cardano has lost 9% of its value.
No currency or token in the top 20 by market capitalization (excluding stablecoins) has registered a weekly gain; the majority has reported double-digit losses. The overall cryptocurrency market cap is presently $1.83 trillion, down from $2.93 trillion on November 8. It has dropped by more than 7% in the last day.
However, things are bad elsewhere, with stock markets also experiencing a poor start to the year, owing to a mix of rising inflation, COVID-linked labour and supply shortages, and looming interest rate rises.
In Thursday trade, the Dow Jones Industrial Average fell about 0.9 percent, bringing its year-to-date losses to 4.5 percent. The NASDAQ, which is heavily weighted toward technology, is faring significantly worse. It is down about 10% for the year after dropping 1.3 percent on Thursday.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
Coincu News
ETFSwap (ETFS) utility token receives honorable mention as popular crypto analyst reveals top 10 high…
As Bitcoin’s founder mystery remains unsolved, Bitcoin’s popularity and adoption are increasing by the day.
London, United Kingdom, May 6th, 2024, ChainwireGBM Auction (https://gbm.auction), the Bid-to-Earn Auction company, is thrilled…
ColleAI is an innovative multi-chain AI NFT platform that aims to revolutionize how we create…
BioMatrix, an L1 blockchain wealth distribution platform aimed at providing a globally accessible UBI to…
Explore the latest crypto trends, Ethereum's status, Bitcoin ETFs, and crypto market dynamics. Learn about…
This website uses cookies.