Bitcoin Price: How Much Was Its Fall & Why Did The Crash Occur?

Bitcoin prices plummeted this Saturday, December 4, to a low of $43,000 US dollars. Why did this fall occur and how much was it?

The cryptocurrency market experienced a total crash after bitcoin fell to a low of $43 thousand US dollars , that is, more than 20%. The cryptocurrency had fallen more than 13% in the previous 24 hours, from $56,294 to $48,309, a loss of nearly $8,000.

Of the 10 cryptocurrencies with the highest value and circulation, all registered falls. The only two in which the loss is slight are Tether and USD Coin , two “stablecoins”, that is, cryptocurrencies backed by dollars. Ether, the second most popular cryptocurrency, fell almost 10%.

The fall of bitcoin comes a week after the dark days the market experienced when the stock market fell in various parts of the world, including that of Wall Street on the Friday of the celebration of ‘Black Friday'.

Why did the price of cryptocurrencies fall?

Bitcoin's drop comes after data showed US job growth slowed in November. The US economy only added 210,000 new jobs out of the 550,000 that were expected.

The other factor that could have caused the fall of the cryptocurrency is undoubtedly the appearance of the Omicron variant. Fear of a possible closure or its effects has caused chaos in the financial market.

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