[Dismas]

BTC has dropped to around half of its USD value, compared to ~$70,000 in November. This likely comes as a result of regulation.

Bitcoin, the largest digital asset, extended its decline Saturday, and has now shed more than 50% from its record high in November.

Bitcoin’s decline since hitting the record has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.

With the Fed’s intentions rocking both cryptocurrencies and stocks, a dominant theme has emerged in the digital-asset space: cryptos have twisted and turned in nearly exactly the same way as equities have.

Bitcoin fell as low as $34,042 Saturday, a drop of 7.2%.

Read More: https://www.livemint.com/market/cryptocu...13136.html