ToCryptocurrency update: Bitcoin price today falls by 22%.

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Cryptocurrency Update: Bitcoin prices fell drastically on Saturday, December 4, amid Christmas risk-off taking cue from the global stock markets, which remained volatile for the same reason. The global cryptocurrency markets on the day logged a sharp decline in its numbers as more investors sold off stocks to settle for secure investment options as Christmas day neared. Bitcoin, the latest victim to this sell off, fell down to as low as $42,000 as per reports. This was as much as a $10,000 decline as compared to its price a day back. This came after Bitcoin hit a seven-week low last month to close at $54,000 after touching its all time high days back.

At its lowest on Saturday, one unit of Bitcoin sank below the $42,000 mark, losing as much as 22 per cent, as per a Reuters report. However, following this, the world’s largest cryptocurrency by market value pared its losses to settle at the $47,000 mark. Bitcoin prices stood at $47,664.16 at the time of writing this article, according to data from CoinMarketCap. This was down by 15.83 per cent over the course of the last day and by 13.48 per cent over the last seven days as per data.

We hope to see the price back up soon