latest btc news|Bitcoin Dumps Over a Third of its Value in a Month

Starting out at over $6,500 on November 1st Bitcoin plummeted around 35% to end the month at around $4,280 yesterday according to figures from Coinmarketcap. Naturally different indexes will have slightly different prices and taking time zones into consideration could make things look worse as BTC plunged again a few hours ago, still technically November in the US

CNBC has noted that a 37 percent dump this month is the worst Bitcoin has had since it fell 39 percent in April 2011. Looking at the high to low figure for the month is even worse as BTC fell from over $6,500 to below $3,600 in just a couple of weeks marking a decrease of almost 45%.

In terms of market capitalization Bitcoin lost around $40 billion as it nosedived from $113 billion at the beginning of the month to $74 billion at the end of it according to CMC. CEO of Genesis Global Trading, Michael Moro, told CNBC it did not take much for the price to break down once support at $5,800 was broken;