Bitcoin Plunges to Six Month Low as Crypto Traders Worry We’re Nowhere Near the Bottom
Bitcoin’s price sank on Friday, dipping below $95,000 before recovering slightly by early afternoon ET. The price currently sits at $95,400, down 3.2% on the day and down 15% from a month ago.
Bitcoin hit a six-month low Friday as the price of cryptocurrencies seemed to be largely tracking the stock market, which frequently happens. Markets opened lower on Friday before similarly rebounding. The S&P 500 is down 1.2% this month, according to CNN, and the Dow is down 0.6%.
Crypto traders often think of themselves as being part of a new financial system, independent of whatever is happening on Wall Street. But price fluctuations often mirror the Dow Jones and NASDAQ, and can often seem even more dramatic with wild…
