Bitcoin down the drain: this is how it stands
Strike blows for the most well-known cryptocurrency in recent hours. How is Bitcoin doing?
The blood runs through the streets. You can say that. Not only Bitcoin, but also the stock market has been hit hard in recent days. While the stock market is closed on the weekend, Bitcoin happily continues to rise and fall on Saturday and Sunday.
Falling is the main thing. And tough too. The currency is back at the level of corona year 2020. Not as bad as the low of that year. For that, the coin really has to drop to a value of $5,000. But around the period of November 2020. Even then, the cryptocurrency was worth about 18,000 dollars.
Bitcoin is not doing well. At least, if you’re a HODL’er. Those who have been waiting for an entry point from the top will rub their hands. In a span of seven days, Bitcoin has fallen more than 30 percent.
In fact, since the dawn of 2022, the currency has evaporated more than 60 percent in value. The biggest blows fell in recent weeks. In just a month, the value of BTC fell by almost 40 percent. According to the figures on Coinmarketcap.
Much is still unclear. Due to the volatility, it is impossible to say which way it will go. The current state of Bitcoin does not seem to rule out a further decline. And how far does it go? Time will tell. In any case, it is exciting.
