The price of Bitcoin (BTC) and other cryptocurrencies has been plummeting today, with the price of Bitcoin sinking below $30,000. Dogecoin and other currencies have also taken a hit.
Bitcoin was trading at around $29,600 as of midday on Thursday, down more than 12% from its price just 24 hours ago. According to the COIN360 cryptocurrency heatmap, the total value of all cryptocurrencies has fallen by more than $600 billion over the past week.
The sell-off was likely to be triggered by a number of factors, including investors’ fears about tighter regulation and the potential for a worldwide economic slowdown. In addition, the price of Bitcoin had been rising steadily in recent weeks, and some analysts believe that it was due for a correction.
A day after Bitcoin rose by 5.33% to reach $30,204.92, it witnessed another drop today below $30,000. The world’s …
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Source: Cryptocurrency - investing.com
