- Bitcoin experienced a rollercoaster week, reaching a new all-time high before facing a substantial decline.
- The market volatility and sharp fluctuations in value emphasize the unpredictable nature of cryptocurrency investments.
Bitcoin experienced significant volatility last week, reaching a peak of $73,800 but quickly falling to $66,000, marking a 10-day low.
Bitcoin slumps to 10-day lows, with DOGE and SHIB falling by double digits
Unlike previous weekends, this weekend has seen increased volatility, with the major cryptocurrency plummeting to under $65,000.
Alternative coins like DOGE and SHIB are also deep in the red, contributing to a total crypto market cap loss of over $100 billion per day and more than $300 billion in the past few days.
Also read: Bitcoin mining difficulty hits 84 trillion ahead of bitcoin halving
Bitcoin slumps hard
Generally, bitcoin went up and down in the last week. Monday soared to a high note, proliferating after retracing on Sunday evening to over $70,000 to register a new all-time high (ATH). The asset kept surging in the following days and peaked at $73,800, which is the current ATH.
It reached its peak on Thursday but was followed by a massive rejection. The bears eventually took control of the market and pushed bitcoin below $66,000 on Friday. On Saturday, bitcoin regained some lost ground and even challenged $70,000.
However, it didn’t have much success and was quickly knocked back down to $68,000. In the last 12 hours or so, bitcoin has fallen again, hitting a new ten-day low of $64,500 (Bitstamp data). Although bitcoin has recovered about $1,000 from this low, it is still down more than 5 percent for the day.
