The most popular digital currency, Bitcoin has become a major concern for cryptocurrency traders now as the price is crashing at a rapid pace and making people wonder whether it will continue to drop before settling at the price it was trading at nearly a year back. As of 9th June 2021, it has gone back six months and Bitcoin is trading at a value it touched in January 2021.
Bitcoin holds 41% of the global cryptocurrency market by trading value.
Bitcoin price continued to crash reaching $32,622 on June 08, 2021.
In mid-April 2021, Bitcoin price soared to all-time high touching $63,346. Almost 50% fall in the price of Bitcoin has upset the traders and investors who joined the party late.
The fall in Bitcoin price has a direct impact on the worldwide cryptocurrency market. Over $1 trillion wiped off, in terms of market cap, in the last one month as Bitcoin continues to fall drastically.
