Back to 2017: BTC Price Plunged Below $3,800
On the weekends the BTC price fell below $3,800. The market hasn't seen such lows since September last year.
According to Coinmarketcap, on November 25, the price of Bitcoin hit another anti-record in 2018, dropping to $3,715. The last time Bitcoin fell below $3,800 in September last year.
The collapse of the cryptocurrency market began on November 14th, since than Bitcoin has fallen in price by more than 40%. The fall has not bypassed other top cryptocurrencies. The Ethereum dropped to $106 at the time of publication. Thanks to it, ETH lost the status of the second largest cryptocurrency by market capitalization. Ripple, which also fell to $0.347695, has overtaken ETH place. Bitcoin Cash before the collapse exceeded $500, now BCH costs only $169.
In general, the cryptocurrency market has lost over $90 billion in capitalization over the past 10 days.
Experts disagree about the reasons for the fall of the market. Some blame Bitcoin Cash forks, others are convinced that the SEC triggered the massive drop. Others are confident that institutional investors are entering the market and they manipulate the market prices.
- Bloomberg analysts believe that the worst is yet to come, and BTC could fall to $1,500 in 2018