Bitcoin has fallen to below $5,000, its lowest value in over 12 months, with losses now totalling more than 65% for the year, according to CoinDesk. The slump follows a relatively stable period for the cryptocurrency market, which had seen bitcoin trading in the $6,400 range during October. In an interview on CNBC, former Federal Reserve Chairman Ben Bernanke said that he was not surprised by the recent drop and noted that it is “very hard to tell” whether this will
Bitcoin has fallen to below $5,000, its lowest value in over 12 months, with losses now totalling more than 65% for the year, according to CoinDesk. The slump follows a relatively stable period for the cryptocurrency market, which had seen bitcoin trading in the $6,400 range during October. However, a 9% drop occurred last week, coinciding with a "hard fork" in bitcoin cash, dropping the cryptocurrency’s value to even lower than its price before its major spike at the end of 2017.