Bitcoin Has Worst Week Since 2013, Briefly Tumbles Below $8,000, Other Cryptocurrencies Fall
Prices of the highly volatile Bitcoin plummeted on Friday morning, dropping to . It has been a miserable week for the most popular cryptocurrency as it suffered its worst weekly performance since 2013. Bitcoin fell as low as $7,540 according to Coinbase and then showed just how volatile it is by rebounding to 8,949 in less than three hours at the time of publication. In a span of only 20 minutes in Friday morning, Bitcoin’s price soared over $1,000.
The erratic digital asset is now trading around the same price as it was in mid-November, before it went on a tear in December and hit an all-time high and was very close to hitting $20,000. This is the first time that Bitcoin fell below $8,000 in 11 weeks. Bitcoin prices have fallen by approximately 38% since the start of 2018, but is still well above where it was a year ago when it had a value of $1,015.