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Home Business Bitcoin falls to $28,374 as cryptos face worst bloodbath

Bitcoin falls to $28,374 as cryptos face worst bloodbath

by News desk
May 13, 2022
in Business

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The cryptocurrency market faced one of the worst bloodbaths on Thursday, with market capitalisation shedding 14.8 percent to reach $1.26 trillion.

As of 1250 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price dipped 7.2 percent to $28,374. With this decrease in price, the market capitalisation of the biggest crypto has reached $540 billion. Bitcoin has shed 28.4 percent of its value over the last week.

Bitcoin fell below $26,000 for the first time in 16 months during the intra-day trading. That marks the first time Bitcoin has sunk below the $27,000 level since December 26, 2020.—TLTP