RATE Group | Bitcoin continues slide, but investor activity still at record levels
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Bitcoin continues slide, but investor activity still at record levels

22 May Bitcoin continues slide, but investor activity still at record levels

Posted at 11:23h in Bitcoin News by

Bitcoin’s (BTC) price slumped over the course of the week, dropping by $1327 to $13,930.

BTC behaved with less volatility compared to last week. The assets market value ranged between a high of $15,398 to a low of $13,511 on BTC Markets.

As the price fluctuated, so too did the total digital asset market capitalisation. It hit a high of $415.7bn on Monday night only to come back to $382.9bn on Friday. BTC dominance sits at 66.5 per cent.

BTC’s price dropped by $795 to $14,138 early Thursday morning.

The 5.3 per cent crash was a knee-jerk reaction to reports of a previously dormant wallet address re-activating after 11 years.

The wallet transferred 50 BTC to various addresses, spooking traders as speculation grew that an early adopter of the digital asset was selling their position.

Market value continued to fall on Thursday to close the day at $13,800. This move brought BTC’s weekly percentage loss to 8.74 per cent. It was trading at $13,889 at 12pm, Friday May 22…

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