Bitcoin crashed over the weekend to below $ 34,000, after hitting a new high last week above $ 42,000.
The latest price stays up when put into context with the past few weeks and months, with the price steadily rising over the past nine months, dropping from less than $ 5,000 last March.
Other major cryptocurrencies, including ethereum (ether), litecoin, and bitcoin cash, have also seen massive gains in recent months, with some analysts predicting it may still be just the earliest stages of a major bull run.
The last major bull run in 2017 saw the price of bitcoin jump from a few thousand dollars to around $ 20,000, but it was followed by a painful correction.
The notoriously volatile market is prone to sharp moves, as was demonstrated earlier this week when bitcoin fell around $ 6,000 in the space of a few hours.
Follow all the latest market news, analysis and forecasts here.
Bitcoin price crashes
The price of bitcoin fell $ 8,000 over the weekend, briefly dropping below $ 34,000.
The cryptocurrency has since recovered somewhat and is currently trading above $ 35,000.
Remarkably, despite the latest price collapse, bitcoin is still up 10% since last week.
Anthony CuthbertsonJanuary 11, 2021 8:46 AM
We reached out to market analysts and cryptocurrency experts to get their take on the latest breach of the latest $ 40,000 milestone.
Anthony CuthbertsonJanuary 8, 2021 10:31 AM
Up 36% in 7 days
Bitcoin came back below $ 40,000 overnight, but not by much.
The cryptocurrency remains up 7% from this hour yesterday, and a remarkable 36% from last week.
Anthony CuthbertsonJanuary 8, 2021 10:16 AM
40 000 $
Bitcoin has just reached a new all-time high, this time a major milestone.
Anthony CuthbertsonJanuary 7, 2021 6:34 PM
Bitcoin hits new all-time high
Bitcoin hit a new all-time high for the third time this week, surpassing $ 37,700 on Thursday morning.
Anthony CuthbertsonJanuary 7, 2021 11:17 AM
A trillion dollars
The combined market capitalization of all cryptocurrencies topped $ 1 trillion for the first time.
Anthony CuthbertsonJanuary 7, 2021 11:16 AM
On the way to surpassing Apple and Google?
As bitcoin continues to trade at near record highs, market analysts and cryptocurrency experts have shared their reaction to the latest price movements with us.
Here’s what they have to say:
Anthony CuthbertsonJanuary 6, 2021 6:11 PM
Bitcoin market capitalization comparison
In the wake of the latest price spike, here’s how the overall market value of bitcoin compares to other assets:
Anthony CuthbertsonJanuary 6, 2021 10:42 AM
Bitcoin has just broken a new all-time high.
Anthony CuthbertsonJanuary 6, 2021 9:23 AM
JPMorgan strategists predict more to come
The nine-month Bitcoin market boom may just be the start of a much bigger price rally, according to strategists at JPMorgan Chase & Co.
A note from the investment banking giant predicted it could rise another 4.6 times to $ 146,000.
This is the second bullish prediction made by analysts at a Wall Street bank in recent months, following an even bolder forecast of $ 300,000 in a Citibank report.
Read the full story here:
Anthony CuthbertsonJanuary 5, 2021 1:18 PM