Bitcoin Crashes Below $47,000 as Altcoins Show Red
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Bitcoin continued its slide on Monday as the flagship cryptocurrency crashed below $47,000
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Other leading altcoins are also struggling to recreate the momentum that pushed them to all-time highs last month
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At the time of this report, the cryptocurrency market is valued at $2.12 Trillion, down 9.75% in the last 24 hours
After a brief surge that pushed bitcoin above $50,000 over the weekend, the flagship cryptocurrency has come crashing.
On Monday, the world’s largest cryptocurrency by market cap fell by more than 7% to $46,700.
Leading altcoins also struggled to keep up with the momentum that pushed some to all-time highs only last month.
Ethereum (ETH) and Ripple (XRP) both fell by more than 9% while Solana (SOL) tumbled by more than 13%.
Despite the recent back and forth movement of the market, several analysts are still tipping the crypto market to end the year on a high.
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The market could also be boosted by positive news such as the introduction of WhatsApp’s new cryptocurrency pilot in the US.
At press time, the cryptocurrency market was valued at $2.12 Trillion, with most of the top 100 cryptocurrencies showing red.
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