Bitcoin price collapse leads US$1 trillion crypto crash
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It’s a sea of red on the crypto boards today, with the Bitcoin (CRYPTO: BTC) price tumbling another 4.8% over the past 24 hours.
At time of writing in late morning trade on Friday, the world’s first and biggest digital token is trading for US$87,038 (AU$134,922). That gives it a market cap of US$1.73 trillion.
Now, that’s still a lofty valuation by longer-term standards. After all, only 10 years ago BTC was trading for just US$400.
But it’s certainly been a painful journey for crypto investors arriving late to the party.
As you may recall, it was only on 7 October that the Bitcoin price rocketed to a new record high of US$126,198, according to data from CoinMarketCap.
Meaning crypto investors who bought at…
