The value of the cryptocurrency Bitcoin plunged again today to the level of RM 104,424 when this article was written. This is more than half the high of RM 280.805 that Bitcoin set in early November last year. The decline in the value of Bitcoin today has also caused the value of other cryptocurrencies such as Ethereum and Solana to plummet.
The value of Bitcoin plunged by 22% in just five days. Investors are starting to let go of their crypto holdings due to the ever-increasing rate of inflation. 2022 is quite a challenging year for crypto investors. The NFT fever at the start of the year increased its value suddenly and the crisis in Ukraine brought it back down.
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BUSINESS & MONEY