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BTC dives under USD $10,000 for first time since December, loses 50% over the past 30 days

It's been a crazy month for Bitcoin owners. (Image: CryptoCompare)
It's been a crazy month for Bitcoin owners. (Image: CryptoCompare)
Bitcoin has proved that it's not for the faint of heart this week. At one point today, BTC swooped down 10% for the day and hit a 35% loss for the week. Just in today's trading, BTC has seen losses and gains between 10% on each side.

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Bitcoin is the hottest asset in town, but it's unlike almost any other security we've ever seen. Last month, it seemed like Bitcoin (BTC) was the new investment darling, popping a staggering 240% since October to cap out over USD $19,000 on December 15th. However, we're likely to see just as many people start to rush out of the market as BTC fell back under $10,000 for the first time since December today.

Even intraday trading has been incredibly volatile with gains and losses both hitting around 10%. BTC fell under $10,000 early this morning between 4:40 and 4:50 AM CST (UTC -6) before popping back up, only to fall once again. At the time of this writing, the cryptocurrency bottomed out around $9300 just after 9:00 AM. The current price at the time of publication is around $11,250, which is about a 5% gain over the past 24 hours.

Seasoned Bitcoin miners and investors may be unphased by the 50% dip over the past 30 days, but since hitting and subsequently shooting past $10,000 in December, the blockchain-based currency has attracted a plethora of new buyers. Those new to the crypto scene are likely in shock at the huge fall in value, especially those that have little to no investment experience. So it goes in the Wild West of new investment securities, especially currencies.

At this stage, early miners and buyers, even those that got in the game as late as October of last year, are still sitting on some major gains. While no one can tell if BTC will recover or continue to fall, one thing is certain: this latest downturn continues to show that BTC can turn against expectation at the drop of a hat.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2018 01 > BTC dives under USD $10,000 for first time since December, loses 50% over the past 30 days
Sam Medley, 2018-01-17 (Update: 2018-01-17)
Sam Medley
Sam Medley - Review Editor - @samuel_medley
I've been a "tech-head" my entire life. After graduating college with a degree in Mathematics, I worked in finance and banking a few years before taking a job as a Systems Analyst for my local school district. I started working with Notebookcheck in October of 2016 and have enjoyed writing news articles and notebook reviews. My areas of interest include the business side of technology, retro gaming, Linux, and innovative gadgets. When I'm not hunched over an electronic device or writing code for a new database, I'm either outside with my family, playing a decade-old video game, or sitting behind a drum set.