The cryptocurrency world continues to experience turbulence. Bitcoin, which has been refreshing record after record for a while, lost nearly 10 percent in just a few hours. As of the evening of April 13, the price of the cryptocurrency fell as low as 62 thousand dollars.
Bitcoin price fell as low as 62 thousand dollars
According to data from CoinMarketCap, Bitcoin fell sharply during the day. Accordingly, the cryptocurrency, whose price exceeded 71 thousand dollars the previous day, fell to 62 thousand dollars. This figure means that it fell more than 8 percent from its highest level.
Analytics firms have been pointing to increased volatility and downside risk for Bitcoin in recent weeks. CryptoQuant, for example, said key metrics such as unrealized profit margin have remained weak since late March.
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According to Kaiko’s research, volatility in the Bitcoin market has been increasing since early April. Bitcoin, which rose from $ 59,000 to $ 71,000, signaled that there would be price fluctuations. As of April 13, it has lost more than 8 percent in value.
The decline in the past hours has wiped over $ 920 million of liquidity from the cryptocurrency market. However, it should be noted that standard markets such as the S&P 500 and gold also declined. Apart from Bitcoin, other popular cryptocurrencies such as ETH, BNB and Doge also lost value.
According to analysts, the all-time highs will not last. The sharp decline suggests that investors should reconsider their risks.
Note: The information in this article is not investment advice. It is for informational purposes only.
