Bitcoin has plunged to new lows amid a horror 72 hours for the cryptocurrency.
By 8pm AEDT on Monday, the top-ranked blockchain tanked to US$23,740, the lowest it has been since Christmas 2020.
Bitcoin has lost more than 10% of its value in a day.
Its a massive drop from eight months earlier, when bitcoin was worth $69,000 per token in November.
But cryptocurrency is in for a rough couple of weeks as experts warn that the embattled digital tokens haven’t hit anywhere near rock bottom.
Last week, an eye-watering $US100 billion ($A142 billion) was wiped from the combined cryptocurrency market capitalisation, according to Forbes.
Prominent blockchains suffered a significant hit including bitcoin, ethereum, BNB, solana, cardano, XRP, dogecoin, polkadot, tron and avalanche.
Ethereum didn’t fare much better than its bitcoin counterpart; the second most popular cryptocurrency sank by 20 per cent over the weekend, dropping to $1946, which was its lowest level since March 2021.
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