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Cryptocurrency: Bitcoin drops more than 30%

10/12/2021
Categories: Economy/Forex

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The number of bitcoins in circulation is at the lowest level since 2018. The recent drop linked to the liquidations of contracts in the Bitcoin futures market over the weekend, caused the price to tumble in recent days.

Bitcoin has fallen more than 30% since its all-time highs of last month, which has the effect of casting doubt among market participants, especially for less savvy investors in this cutthroat sector of digital assets. The total number of bitcoins on exchanges hit a new three-year low of 2,389,598 BTC available, meaning more BTC is being withdrawn from exchanges rather than being recirculated into the network.

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