In the early hours of Wednesday, December 9, Bitcoin’s price fell to around $18,000, down more than 5% or $1,200 in 24 hours.
As a result, futures-market liquidations totalled $440 million.
A similar decline was observed on December 1, before the asset rallied to $20,000.
At the time of reporting, the leading cryptocurrency was trading around $18,230. Market capitalization stood at about $338.3 billion.
Hourly BTC/USD chart from TradingView (Bitstamp).
Other leading digital assets were also in the red by early Wednesday. Ethereum fell about 8% to around $500, while XRP traded down to $0.55.
Bloomberg said that Bitcoin’s price could fluctuate in a $10 000–50 000 range, and that the market capitalisation could reach $1 trillion as early as 2021–2022.
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