Big Bitcoin Drop happened for the First Time

Big Bitcoin Drop happened for the First Time

Bitcoin News Cryptocurrency
by Editor
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Bitcoin continued its month-long which witnessed a drop below $40,000. This happened for the first time since early February. The cryptocurrency was trading around $39,678. There was more than 12% drop in the past 24 hours. Bitcoin has dropped nearly 40% since its high of over $64,000 in February. Other major cryptocurrencies are constantly falling.
Bitcoin Prices

Bitcoin continued its month-long which witnessed a drop below $40,000. This happened for the first time since early February. The cryptocurrency was trading around $39,678. There was more than 12% drop in the past 24 hours. Bitcoin has dropped nearly 40% since its high of over $64,000 in February.

Other major cryptocurrencies are constantly falling. Ether (ETH) dipped below $3,000 for the first time since May 2, although it had regained this threshold as of 01:29 UTC.

According to Joe DiPasquale, Bitcoin’s volatility this year, CEO and creator of BitBull, a cryptocurrency hedge fund, is consistent with its past of “higher highs and higher lows.”

“The price drop… is a natural consolidation cycle that we see as important for the support lines to form for future appreciation,” he said

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