Bitcoin has lost almost half its value since its November high, with cryptocurrency prices continuing to plunge as major economies look to curb their popularity.
And it’s not just Bitcoin, as cryptocurrencies in general have had a dismal start to the year.
Bitcoin has fallen over 8% in the last 24 hours, and was trading at $35,479 as of 9:30 am ET, according to CoinDesk. The world’s most valuable cryptocurrency has plummeted over 20% since the beginning of the year. In November it was trading at a record high of $68,990.
Its peers have fared worse. Ethereum, the world’s second most valuable cryptocurency, has fallen more than 12% in the last 24 hours, and was trading at around $2,400 as of mid-morning Saturday, according to CoinDesk.
That’s an almost 30% drop since the start of the new year.