Bitcoin’s downward price trend continues, with a plunge to a ten-day low of $46,000 just a few hours ago. The bitcoin market value has dropped by $250 billion in three days, putting most altcoins on a similar path.
The principal cryptocurrency was riding high just three days earlier, on December 27th, when it hit a near one-month high of $52,000. In the digital asset market, though, a lot may happen in 72 hours.
Following this local high, bitcoin began to rapidly lose value. It sank to $49,000 in hours on Tuesday, as stated, before dropping to $48,000 yesterday.
The problem has only gotten worse in the last 24 hours, as BTC has plummeted to $46,000, its lowest price in ten days. Bitcoin is currently trading approximately $1,000 higher, although it is still down nearly 2% on the day and has a market capitalization of less than $900 billion.
Altcoins have also had their ups and downs. Earlier this week, Ethereum, for example, traded above $4,100. However, after losing the coveted $4,000 level on Tuesday, the second-largest cryptocurrency is now around $3,700.
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