Bitcoin has seen $15.5 billion wiped off its value in 11 days since it hit an all-time high

Bitcoin has seen $15.5 billion wiped off its value in 11 days since it hit an all-time high

  • Bitcoin fell below $4,000 on Wednesday with negative comments from major business leaders about the cryptocurrency and the threat of a regulatory crackdown, unnerving investors.
  • At its lowest point on Wednesday, bitcoin was over $1,000 off the all-time high of 5,013.91 hit on September 2.
  • Bitcoin’s total market capitalization or value has fallen around $15.5 billion in this time from $82.28 billion on September 2 to $66.74 billion on Wednesday, according to Coinmarketcap data.
  • Investors have been jittery in the past few days mainly due to numerous media reports suggesting that Chinese authorities are looking to shut down some bitcoin exchanges.
  • On Wednesday, India’s central bank said it had been looking into cryptocurrencies as legal tender.

Investors are jittery because Chinese regulators are threatening to crack down on some exchanges.

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