The price of bitcoin fell below 47 47,000 in cryptocurrency trading on Wednesday. It looks like cryptocurrencies will end up in trouble this year.
The world’s largest cryptocurrency in terms of market cap fell 30% after hitting an all-time high in November. But to date, it is still about 65% high.
The value of the cryptocurrency fell by 17.5% in December and is set to be the worst since May. Bitcoin prices fell 35 percent in May.
Prices of other major cryptocurrencies are also on a downward trend. Ethereum was down 2.17%, Solana was down 5.08% and Cardano was down 6.28%.
