The Bitcoin dropped on Sunday by about 12% to close at $33,515.76, which represents an over $4,550 drop within the last one day.
Bitcoin, the world’s most valuable cryptocurrency, is down by almost 50% from this year’s peak of $64,895.22 on April 14, as it suffered another sell-off that left it crashing.
In the same vein, Ether, the coin linked to the Ethereum blockchain network, dropped 11.47% to close at $2,074.14 on Sunday evening, losing $269.07 in the last 24 hours.
Both Bitcoin and Ether, the second-largest crypto, have now lost half their value from all-time highs set last month.
Recall that Tesla Inc. Chief Executive Officer, Elon Musk, had on Saturday tweeted in support of crypto but this failed to stop the selling pressure and the market plunge.
