Bitcoin’s latest slide erased nearly $90 billion from the cryptocurrency market. What investors should consider

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Bitcoin’s latest slide erased nearly $90 billion from the cryptocurrency market. What investors should consider

Is falling, again. The popular cryptocurrency slumped as much as 5% Tuesday, falling below the key $30,000 level for the first time since June 22, according to data from CoinMarketCap. Other cryptocurrencies were also dragged lower. Ether slid as much as 6%, while XRP dropped as much as 9%. The negative price action wiped nearly The rout in digital coins follows the when all three major U.S. indices ended the day lower on fears that a resurgence of Covid-19 would halt the economic recovery. A day later, Bitcoin, however, has been on a downward spiral since April, when it hit an all-time high of nearly $65,000. Since, the cryptocurrency has fallen more than 50% and nearly erased all of its year-to-date gains. Extreme and sometimes unpredictable movements up and down are relatively common for cryptocurrency, and will likely continue. "The only thing I can expect for sure is volatility," said David Yermack, a professor of finance at New York University Stern School of Business. "From day one, this has been a risky investment for people." Bitcoin has seen both astronomical growth over the last decade and major selloffs at various points in between. Although many bulls point to its past