Bitcoin has fallen to below $5,000, its lowest value in over 12 months, with losses now totalling 9% 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 more than 65% 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.
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.