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The price of bitcoin and other cryptocurrencies declined again over the weekend and until Monday, with the bitcoin investing another nearly 10% in value below the $ 4,000 threshold in one of the worst weekly selloffs ever recorded .
Bitcoin dropped to $ 3,557 mid-morning on Monday, a drop that pushed the digital currency to one of the worst weekly selloffs ever recorded. Bitcoin has lost about a third of its value in the last seven days and has now fallen about 80% from its peak of nearly $ 20,000.
At 3 pm. ET, the price of bitcoin has slightly recovered to $ 3,815, down slightly more than 5%.
A split in the Bitcoin Cash cryptocurrency in two versions last week were among the various factors that contributed to the selloff, according to market observers.
Speculation that greater regulatory control will push issuers of initial coin offerings, or ICOs – the method by which digital currency creators offer units of a new cryptocurrency or crypto-token in exchange for cryptocurrencies like Bitcoin or Ethereum – has also the decline has been stimulated.
The decline is in contrast to his performance a year ago, when the cryptocurrency rose to a record high of $ 19.511. It fell to $ 13,500 at the start of this year and then stopped at around $ 6,400 for most of October, before prices began to fall again in early November.
Other major cryptocurrencies showed mixed mid-afternoon performance, with Ethereum down 0.3%, or 33 cents, 1.2%, or $ 1.31, $ 108.96, and Litecoin of the 4%, or $ 1.23 to $ 30, according to CoinDesk. Bitcoin money has increased by almost 8%, or $ 15.31, to $ 203.03.
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