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Bitcoin Value Drops By 50%
Posted by Thandiubani on Mon 09th May, 2022 - tori.ngThe world’s largest cryptocurrency by market value has now fallen by 50% since its peak in November last year.
Bitcoin has dropped below $34,000 (£27,630), seeing it lose 50% of its value since its peak in November last year.
This is according to the Coinbase cryptocurrency exchange.
The slide in the value of digital assets comes as stock markets around the world also dropped in recent days.
On Monday, some Asian markets headed lower again with Japan’s benchmark Nikkei index down by around 2.5%.
Bitcoin accounts for about a third of the cryptocurrency market with a total value of close to $640bn.
Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.
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