The world's biggest cryptocurrency by value dived $2664 to $27,610, a level not seen since November 2020.
There was a sea of red in the wider cryptocurrency market, which has plunged in value from $1.5 trillion on Monday to around $1.1 trillion today. There are fears it could fall much further.
The crash will hit thousands of amateur investors around the world, as well as many financial institutions that have begun to dabble in the market.
Crypto exploded in popularity in the pandemic as prices soared and people stuck at home decided to learn more about the sector. Bitcoin, a barometer for crypto, reached an all-time high price of more than $68,000 in November.
Esta historia es de la edición May 12, 2022 de Evening Standard.
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