Crypto Market Meltdown Continues as Bitcoin Price Drops Below $5,000After a tumultuous day of trading which saw (BTC) price drop 28.35% from $7,650 to $5,500, the carnage restarted at 11:00 (UTC) when Bitcoin abruptly dropped another 24%. This brought the price to $4,679, a new 2020 low and a price not seen since April, 2019.
The price action of the day means Bitcoin’s 2020 gains are completely wiped out and the asset is currently 58.07% down from its 2020 high at $10,500, a price achieved less than one month ago.
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