Ether, the crypto-related to ethereum’s blockchain and the second-largest cryptocurrency, plummeted as much as 9% to its lowest level since September 30.<\/p>\n

The price of Bitcoin continued to plummet throughout the day, dropping below $42,000 for the first time since September.<\/p>\n

Since peaking at almost $69,000 in November 2021, Bitcoin has lost over $27,000 or 40% of its value. The digital currency dropped 4.9 percent to $41,008.<\/p>\n

Meanwhile, the coin linked to ethereum’s blockchain, Ether, tumbled as much as 9% to its lowest level since September 30.<\/p>\n

In the past week, other digital assets like Binance Coin, Solana, Cardano and XRP have all dropped by more than 10%. According to CoinGecko<\/a>, the worldwide crypto market capitalization fell by more than 4% to $2.08 trillion.<\/p>\n

Last year, Bitcoin grew by 60%, far outpacing other investment classes. Ether, on the other hand, has benefited from the success of blockchain technology by financial technology firms, and more significantly from the use of non-fungible tokens (NFTs) in the art and gaming industries.<\/p>\n

Binance Coin had the best return out of all the largest cryptocurrencies, increasing by more than 1,300% in 2021.<\/p>\n

The recent swings in bitcoin and other cryptocurrencies have occurred during an uncertain time for the financial sector.<\/p>\n

Inflation is spiking, forcing central banks to tighten their monetary policy, which could result in the liquidity windfall that helped a wide range of assets.<\/p>\n

According to data from Blockchain.com<\/a>, the Bitcoin hash rate, a metric of network computing power, decreased to 176 million terahashes on Thursday, down from a high of about 208 million on January 1.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ether, the crypto-related to ethereum’s blockchain and the second-largest cryptocurrency, plummeted as much as 9% to its lowest level since September 30. The price of Bitcoin continued to plummet throughout the day, dropping below $42,000 for the first time since September. Since peaking at almost $69,000 in November 2021, Bitcoin has lost over $27,000 or […]<\/p>\n","protected":false},"author":5,"featured_media":2271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[37],"tags":[],"class_list":["post-2268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"acf":[],"yoast_head":"\n