Bitcoin’s value plummets 7.9% to $61,842

Bitcoin’s value plummets 7.

• Bitcoin’s value decreased by 7.9%, reaching $61,842 on April 13, marking a significant loss of $5,308 from its prior closing value.
• Ether, the cryptocurrency linked to the Ethereum blockchain network, experienced a 9.18% decline in value, falling to $2,930 and losing $296.1 from its previous closing figure.

Cryptocurrency markets saw a major dip as bitcoin’s value fell by 7.9% and ether experienced a 9.18% decline, causing losses of $5,308 and $296.1 respectively.

Also read: Ethereum’s EIP-3074: Making normal wallets ‘smart’

Also read: VanEck CEO predicts ether ETFs will be deniedin May

Bitcoin’s value plummets

OUR TAKE
Despite recent declines, bitcoin’s resilience remains evident, showcasing its ability to weather market fluctuations. Its position as the leading cryptocurrency underscores its enduring appeal and potential for future growth. This setback presents an opportunity for strategic investment, particularly considering its long-term trajectory and role as a store of value.
–Tilly Lu, BTW Reporter

The value of bitcoin experienced a decline, dropping by 7.9% to $61,842 at 21:00 GMT on April 13. This represents a loss of $5,308 from its previous closing value. As the largest and most widely-recognised cryptocurrency globally, bitcoin has seen a 16.2% decrease from its peak value of $73,794, which was recorded on March 14th earlier this year.

Ether suffers significant decline

In addition to bitcoin’s decline, ether, the digital currency associated with the Ethereum blockchain network, also experienced a fall in value. Ether’s price dropped by 9.18% to $2,930 on Saturday, resulting in a loss of $296.1 from its previous closing figure.