Is Bitcoin too volatile again? Value falls over 50% since last peak

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Bitcoin has been acting volatile again. Its value seems to have been falling continuously over the weekend. It has dipped below $34,000 (£27,630), as per the Coinbase cryptocurrency exchange.  

Since its peak in November last year, this cryptocurrency, which is actually the world’s largest by market value, has nosedived and is down by 50%.  

This comes as the stock markets around the world are facing a hard time and have been going down recently.  

Also Read: Lawsuit filed against Tesla CEO Elon Musk to prevent Twitter’s buyout

Some Asian markets may witness downward trend again on Monday as Japan’s benchmark Nikkei index is down by around 2%. 

With a value of $636bn, Bitcoin seems to account for around a third of the whole cryptocurrency market.  

The second biggest cryptocurrency in the world, Ethereum, has also been in dire straits and has gone down by over 10% last week.  

Watch: Zimbabwe suspends bank lending in bid to arrest currency decline

This downside in the value of digital assets has become a huge reason to worry for investors. So, it is a time to tread cautiously.  

In earlier years of the cryptocurrency market, the volatile trading was not unusual in digital assets.    

For most of the 2022, it had been relatively quiet though.  


(With inputs from agencies) 

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