Bitcoin price takes another nosedive, plummets below $4,000

It's no secret that the crypto market is a volatile space and bitcoin, among other cryptocurrencies, has seen its price drop during the course of this year since hitting a record value of $19,500 in December 2017. In June, its price fell down to around $6,600 and since then the drop seems to be showing no signs of stopping.

According to CoinMarketCap, bitcoin has sunk below $4,000, marking another major blow to the flagship cryptocurrency. In particular, its price dropped to $3,667.92, which represents a loss of 15.5% and its lowest in the last 24 hours.

Bitcoin is not the only cryptocurrency that suffered a double-digit percentage fall as other cryptocurrency tokens have also seen massive losses within a 24-hour period. For example, ether's price fell to $102.69 and Litecoin's to $27.56 in the past 24 hours.

Bitcoin saw similar drops in value over the last few years. Earlier this year, its value dropped below $8,000 as the global cryptocurrency landscape shifted. With bitcoin continuing to see a downward trend over the last year, it remains to be seen when the world's top cryptocurrency tokens begin to recover.

Source: CoinMarketCap via TechCrunch

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