Bitcoin loses half its value and extends losses as market fails to rally

Bitcoin loses half its value as the value continued to plunge on Saturday following Friday’s cryptocurrency market crash.

Bitcoin loses half its value as the value continued to plunge on Saturday following Friday’s cryptocurrency market crash, dropping 5.6 per cent to sit below the $35,000 (€30,851) threshold for the first time since August.

The world’s biggest cryptocurrency slipped to $34,448.94 (€30,365.53) at 7.10 PM CET on Saturday, losing $1,878.27 (€1,655.63) from its previous close.

Bitcoin loses half its value with other cryptocurrencies

Cryptocurrencies across the board continued to slide in value, with indexes a sea of red still on Sunday, followed by a swarm of tweets and speculation on Twitter.

The price of Bitcoin was, however, up 1.8 per cent from the year’s low of $34,000 (€29,970). It’s also plummeted over 40 per cent since its historic high in November when its value reached $68,992 (€60,895.79).

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