- The price of one bitcoin has fallen below $10,000 for the second time in less than two weeks.
- Exchanges Bitfinex and Tether have
Bitcoin has slumped more than 11% in the last 24 hours, falling below $10,000 per coin for the second time in less than two weeks as reports of cryptocurrency exchanges Bitfinex and Tether being subpoenaed by US regulators in December dragged down prices.
The flagship digital coin now makes up just 33.6% of the world’s total cryptocurrency market value, according to CoinMarketCap.com.
Last year, bitcoin’s price was on path that seemed to have just one direction: up. However, news of crackdowns in the US as well as crypto-centric countries like Russia, China, and South Korea have reinjected violent price swings into the marketplace.
Bitcoin previously fell below $10,000 less than two weeks ago, when what was dubbed a cryptocurrency ‘bloodbath’ wiped out hundreds of billions of dollars worth of value from cryptocurrencies in a matter of days.
The $10,000 benchmark was first crossed in November 2017, as bitcoin’s price skyrocketed to almost $20,000. It eventually peaked just below, at $19,843, according to Markets Insider data.