Bitcoin dropped below $3700 reaching new all time lows for the year, with many analysts expecting the world’s first cryptocurrency to continue its slide.
Bitcoin had been trading in the $6,400 range for the majority of October, down from brief highs last year around $20,000. It had plummeted to $4200 and stalled before today’s decline. The cryptocurrency has reached lows not seen since last year, briefly in mid-September.
The cryptocurrency began its rise around Thanksgiving last year. Bitcoin topped $10,000 at the end of November last year and almost $20,000 by Dec.19th, before dropping all of 2018.