Bitcoin price LIVE: Cryptocurrency hits longest crash for three YEARS– 40% wiped off value

Bitcoin price LIVE: Cryptocurrency hits longest crash for three YEARS– 40% wiped off value

January 10, 2022

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

The cryptocurrency has fallen in price for seven consecutive days over the last week – the longest losing streak since 2018. The plunge comes just two months after bitcoin hit an all-time high of $68,000. Bitcoin is now trading at just above $41,000 but experts fear falling below $40,000 could trigger a steep sell-off. A similar price collapse was seen last year when China announced a ban on Bitcoin miners, but the price eventually recovered rocketing to new record-highs.

FOLLOW BELOW FOR LIVE UPDATES…

Bitcoin tumbles to $40,902.25

Bitcoin has tumbled to a trading value of $40,902.25. 

The fall comes just two months after bitcoin hit an all-time high above $68,000. 

It is typical for all-time price highs to be followed by a significant price correction, but the severity of the recent drop could signal the end of the 2020/21 bullrun. 

Bitcoin prices tumble after US Fed remarks

Bitcoin prices have tumbled to the lowest level in months following remarks made by the US Federal Reserve. 

Minutes from a meeting of the Federal Reserve suggested America’s central bank may raise interest rates sooner than anticipated. 

That could have led to a knock-on effect for traditional investors who hold Bitcoin, as they pursue less risky assets instead.

Source: Read Full Article