September 30, 2022

TECHNOLOGY GADGET

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Bitcoin drops to its lowest in 16 months: Here’re details

On Thursday, Bitcoin dropped to its lowest price in 16 months, heading an exhaust of risk assets, including technology stocks; at the same time, the break up of TerraUSD, an alleged stablecoin, emphasized the struggle in cryptocurrency markets.The most significant cryptocurrency declined in the world as low as $26,970, to the position at its lowest on December 28, 2020. It has missed a third of its price, or $13,000, in the past eight sessions.Moreover, back in 2021, Bitcoin increased to reach its record-breaking high of $69,000 that November. According to traders, its latest drop reflects drops in technology stocks, seeing that the Nasdaq has fallen 6.4% the current week.

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