First. Free fall without a scandal or total collapse
The Bitcoin currency is heading towards recording its fourth annual decline in its history, but it is the first that is not associated with a major scandal or total collapse within the cryptocurrency industry. This decline comes at a time when the market is supposed to be more mature and regulated compared to previous cycles.
The latest waves of decline occurred on Monday, when Bitcoin faced sharp selling that pushed it down by as much as 3.7% during New York trading. Thus, the currency is down about 7% since the beginning of the year, while it is trading at a level close to $87 thousand at 11 AM Riyadh time on Wednesday.
