Bitcoin crashes and then rises again in latest cryptocurrency twist

Andrew Griffin
Monday 10 January 2022 15:10
Comments
<p>The price of bitcoin has been trading sideways since early December 2021</p>

The price of bitcoin has been trading sideways since early December 2021

Bitcoin has crashed – and then almost instantly risen again, to higher prices than it was before.

It is just the latest twist in a difficult start to 2022 for the cryptocurrency, which has plunged dramatically since it hit record highs in November.

Bitcoin is already on its longest losing streak since 2018, and experts fear that movements in the future could lead it to drop even further before any possible recovery.

On Monday, bitcoin suffered a tough day before a dramatic crash that it took it below $40,000, thought to be an important price for the fortunes of the cryptocurrency. Experts had feared that if bitcoin dropped through that price, it could go into further falls as market confidence continued to wane.

In fact, though, the cryptcocurrency went straight back up again, to a higher price than it was before that small crash.

The price was at $40,700, dropped to $39,700 within minutes, and was then trading back at above $41,000 just moments later.

:: Read the latest on bitcoin in our cryptocurrency live blog here. ::

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in