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February has not been a good month for Bitcoin traders, or traders of any cryptocurrency for that matter.
According to CoinMarketCap’s figures at the time of writing, Bitcoin’s value has fallen by nearly 16% in the past 24 hours, hitting a new three month low.
It will now set you back just US$6704 to purchase 1 BTC, this compared to its peak of nearly US$20 000 in December 2017.
Overall, its market cap has also fallen to US$112-billion, while the cryptocurrency market cap as a whole is below US$300-billion once again. This is a far cry from the late 2017 value surge.
But it’s not just Bitcoin. Other cryptocurrencies are also down this week. Ethereum, Litecoin, NEO and Monero have plummeted between 16% and 24% within the past day.
For those looking to invest in cryptocurrency, now may not be such a terrible moment.
Feature image: Kim Gorga via Unsplash