The value of the Bitcoin cryptocurrency plunged below RM80,000 for 1 Bitcoin. When the article was written the value of Bitcoin was around RM79,180. This sudden drop of around 11% worsens the value of Bitcoin which shows a downward trend. Just about a month ago the value of Bitcoin was over RM100,000.
The reason why the value of Bitcoin fell this time is still unclear. But its value has consistently declined with only last week it plummeting below RM90,000 after rising for a while in what was seen as no market recovery. As usual the drop in Bitcoin price also affects other major cryptocurrencies.
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BUSINESS & MONEY