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The hopes that Bitcoin is starting to rebound weakened on Monday while the cryptocurrency suffered another sharp drop, losing nearly 7% of its value in the noon trade.
Bitcoin dropped to $ 3,790.96, according to CoinMarketCap data, before rebounding slightly Monday.
It's another bad day in what was an absolutely sad bit for Bitcoin. On 3 November, the digital currency was worth $ 6,351.74. Today it is worth 39% less.
From the start of the year, when Bitcoin was worth $ 14,112, the currency lost a whopping 73% of its value.
Other cryptocurrencies have also dropped dramatically on Monday.
The decline seems to be tied to some investors who lost confidence after the value of Bitcoin fell once again, under $ 4000. The spiral coincides with a piece of opinion about Atulya Sarin's Marketwatch, professor of finance at the time. ; University of Santa Clara. Sarin postulated that Bitcoin was entering a "spiral of death" and was on the road to "a rapid and painful fall to zero".
If December were to continue like November, or even if Bitcoin were to beat the water for the month, a winning three-year streak for the currency will end. In 2015, Bitcoin values increased by 14% for the year. In 2016, they increased by 30% and last year increased by 40%.
