Bitcoin Has Fallen 20% From Its Latest All-Time High Of $58,000

Bitcoin Has Fallen 20% From Its Latest All-Time High Of $58,000

Bitcoin prices declined over the last few days, pulling back from their latest all-time high and losing close to 25% of their value in under 48 hours. The world's most prominent digital currency fell to as little as $44, 964. 49 this morning, according to CoinDesk data. By dropping to this level, the cryptocurrency had shaved 23% off its price, after rising to a record price of roughly $58, 300 on February 21, additional CoinDesk data reveals. After falling to its recent low, bitcoin bounced back somewhat, approaching $50, 000, and has traded primarily between that price level and $46, 000 since. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] "On a weekly perspective, this is the first time Bitcoin is seeing red in a month," said Jason Lau, COO of cryptocurrency exchange OKCoin. Going forward, multiple analysts emphasized the positive market conditions that could cause bitcoin to keep trending higher. "This dip did cause some traders pain, as almost $6b in liquidations were seen across the market in the last 48, by far a new ATH in liquidations," noted Lau.