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Cryptocurrency Bitcoin plunges sharply after reaching record highs as investors sell – NEWS.com.au
Cryptocurrency Bitcoin plunges sharply after reaching record highs as investors sell
The cryptocurrency bubble could be set to burst as Bitcoin suffered a serious fall in value, with investors scrambling to sell.At the start of the year, it was setting record breaking numbers, surging past $42,000 for the first time in history.
Many investors were backing Bitcoin to become a mainstream method of payment, especially when PayPal started to offer the cryptocurrency in October 2020.
But in the space of 24 hours, Bitcoin has been struck by a 23% drop in value, falling to $31,800.
The…
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