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BITCOIN -1.95% 0.02096

Why has bitcoin dropped to a two month low?

Bitcoin has posted its biggest one-day drop in almost two months, amid warnings that novice investors could suffer heavy losses from speculating in crypto assets such as “meme coin” dogecoin. Bitcoin tumbled more than 11% on Sunday, dropping from about $62,000 (£45,000) to $55,000 – its lowest level since the end of March.

What would happen to bitcoin in a major downward shock?

A major downward shock would knock a lot of wind out of future-oriented assets, and some investors are de-risking to be on the safe side. Relative to bitcoin’s inflation thesis, the scenario demonstrates the most inconvenient truth of economics and finance: that it’s very hard to definitively prove why nearly anything happens.

What was bitcoin's steepest day since Jan 21?

The 6.6% drop for the largest cryptocurrency was bitcoin’s steepest since Jan. 21. Bitcoin suffered its worst day since Jan. 21 (CoinDesk price page) Bitcoin ( BTC) plummeted in late trading Thursday to below $41,000, the biggest daily dip since Jan. 21. BTC was changing hands at $40,983 at the time of publication.

What happened to the price of bitcoin?

The price of bitcoin fell about 10% Tuesday to around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.