The value of the cryptocurrency Bitcoin fell below $83,000 today, continuing the downward trend in cryptocurrency values since the beginning of the month. At the time of writing, the value of Bitcoin is around $82,543 (~RM 342,347), which is equivalent to a drop of more than 10% in 24 hours.
The last time Bitcoin value was at this low was in early April. It is now approaching the lowest value of this year of $76,723 recorded in March. The value of Bitcoin fell after many investors sold their holdings as the value began to decline compared to the $123,000 recorded in early October.
The instability of the global stock market due to the AI bubble scare is also a factor in why all of the increase in Bitcoin value recorded this year has expired in just 10 months.
