Bitcoin reached a new low for the year today as it dropped to $3,306 amid yet another market firesale.
In case you might be asking yourself, this represents an 11 per cent drop and brought the market cap for Bitcoin down by almost $5 billion – that’s $14 billion down on last week.
Bitcoin Continues Falling Since 6k Last Month
Ever since Bitcoin dropped under $6k last month, it has dropped at a relentless pace. Needless to say, alt coins have followed suit and most days are red days for Blockfolio owners.
Interestingly, Bitcoin SV briefly surpassed Bitcoin Cash today and managed to make a 25% during the sell off.
Anyway, back to Bitcoin…
According to Coin Market Cap, Bitcoin has now erased all of it’s gains from last years bull run. In fact, this now represents an 84% drop in value.
As for the total market cap, the crypto markets saw another $11 billion disappear today and sits at just $110 billion at the time of writing this post.