Crypto rout continues. On Saturday, bitcoin crashed, the world's largest digital currency, through the $ 4,000 prize, which dropped as…
Crypto rout continues. On Saturday, bitcoin crashed, the world’s largest digital currency, through the $ 4,000 prize, which dropped as much as 15% and hit a new 14-month low below $ 3,500.
Saturday’s decline marked the 12th losing session for the last 14 and has bitcoin
BTCUSD, + 0.40%
on track for its third consecutive weekly loss. On Sunday afternoon trading, a single bitcoin fetched $ 3,957.63 according to CoinDesk prizes.
It has been a busy year for investors in the emerging digital technology. Since January 7th, more than $ 700 billion has been dumped by the total value of all crypto courses, now $ 1
22 billion, according to CoinMarketCap data.
Still, their hardcore continues advocates.
“This opportunity does not come often. If you missed in 2014, 2015, 2016 and 2017, it’s time,” cryptocurrency analyst Joseph Young wrote in a tweet, referring to the opportunity for investors to buy a bit coin of $ 3000 and Eater of $ 100.
Read: How bitmine melting increases the hedge funds  Altcoins, or coins other than bitcoin, have not gone better. Ether
ETHUSD, + 0.56%
traded under $ 100 for the first time since May 2017, bitcoin cash
tumbled through $ 200 and is now down 94% of the year and XRP
XRPUSD, + 1.81%
The coin in the Ripple protocol was at 32 cents.
Cryptocurrency Annual Losses
Traders will watch bitcoin futures prices when opened on Monday. Will CME
contract trade against $ 3,200 is likely to hit a 20% hard limit which, if reached, is a level that the contract can not handle during the rest of the session.
Read: Bitcoin is imploding – here’s where bitcoin bulls and bears see it led from here
Provides critical information for the United States trade day. Subscribe to MarketWatch’s free need to know newsletters. Sign up here.