Bitcoin Drops to Lowest Value Since September Amid Cryptocurrency Market Turbulence
Bitcoin shed about 20% of its value overnight, dropping from $57,600 to $42,000, its lowest value since the end of September, data on the trading website Binance shows.
Meanwhile, the CoinMarketCap portal showed that the cryptocurrency's price dropped from $53,513 to $45,032 overnight. The portal recorded a 17.51% decrease in the cryptocurrency's selling price in just 24 hours.
The cryptocurrency has recovered somewhat but is some way off its market price of just 24 hours ago. As of 11:30 a.m. GMT the cryptocurrency is selling at $46,939 on CoinMarketCap.
Other popular cryptocurrencies also took a tumble early Saturday. Ethereum saw a 15.31% decrease in its price in the past 24 hours, while Binance Coin and Solana saw shed 14.54% and 19.19% of their values respectively.