Bitcoin Price Falls 55% From Its High
The cryptocurrency market has continued its slide from last week, mirroring the fall of the broader stock market.
The world’s largest cryptocurrency, bitcoin, fell to $30,641 on Monday afternoon, an 11% drop from Sunday at 5 p.m. EDT, according to prices from CoinDesk.
Bitcoin’s price has fallen 55% from its all-time-high of $67,802 in November.
It is on track for the worst five-day stretch since the five days ended March 16, 2020, when it fell almost 38%.
Ethereum, the second-largest cryptocurrency, fell Monday to $2,271.24, almost 11% below the price Sunday evening.
Bitcoin and cryptocurrencies more widely are known for their violent price swings.