Bitcoin is under $23,000
Bitcoin (BTC), a leading cryptocurrency, plunged to a 4-week low of $22,407 Thursday morning before rebounding to $22,715 at presstime.
Today’s drop follows Bitcoin’s strong performance in January. BTC gained nearly 39% in the year-to-date, raising expectations that investors will have a revised bullish outlook.
Bitcoin lost $10 billion in market capital, dropping to $43,789 trillion. The world’s largest cryptocurrency currently holds 39.43% of the market. Ethereum (ETH), which holds 17.73% of the market, is second.
The industry’s second-largest cryptocurrency lost 2.3% and currently trades at around $1,641.
Other major cryptocurrencies such as Binance Coin, Cardano and Dogecoin follow a similar trend in price, with daily loss ranging between 2.3% to 3.6%.
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