The Bitcoin exchange rate, the most expensive and popular cryptocurrency in the world, tumbled below $ 8 thousand, while over the past week it fell by about 20%.
This was the most significant weekly drop this year, Interfax reported.
At the same time, the share of the main digital coin in the market decreased to 67.5%. Most of the largest cryptocurrencies by capitalization are now in the “red zone”, RBC notes.
However, Morgan Creek Capital Management CEO Mark Yusko believes that bitcoin fluctuations are normal.
The maximum historical value of this cryptocurrency was recorded in December 2017, when the price for bitcoin exceeded $ 20 thousand. Then it fell by 41% and in mid-January 2018 it was trading at the minimum (from the beginning of December) value of $ 12 thousand. However, then it became more expensive, reaching the annual maximum value of $ 13 thousand 770 at the end of June.