Bitcoin drops 50 percent from its peak value as it falls below $10,000


Bitcoin dropped below $10,000 today, and it’s now worth just over half of its peak value. The cryptocurrency opened at $11,348, according to CoinDesk, and dropped over $1,600 to hit a low of $9,685, though it’s since recovered slightly and is currently trading at $9,702. Other cryptocurrencies like Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin have also posted deep losses of between 30 to 40 percent, according to data from CoinMarketCap.

Bitcoin had a stellar year in 2017, starting at around $800 and steadily gaining value, before touching an all-time high of $19,783 on December 17th. The cryptocurrency’s price was buoyed as more and more investors poured money into the hype, with some even reportedly taking out mortgages for...

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