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Bitcoin enters bear run territory as it slumps 20 percent from record highs
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cnbctv18.comBitcoin has now officially entered a bear market territory, as it slumped further on fears of the new COVID-19 variant. Bitcoin slumped over 20 percent from its recent record high of $69,000, which it achieved just this month.Bear markets, at least for most traditional and non-volatile asset classes, are defined by experts as a slump of 20 percent or more from recent highs.
Bitcoin was trading at an all-time high of $68,990 on November 10, while it traded at $55,110.90 at the time of writing, according to Coindesk. The world’s most popular cryptocurrency sank nearly 8 percent in the 24 hours from November 25 to November 26 to $54,321, according to Coin Metrics data.Bitcoin was not the only volatile asset class that saw a sudden slump in
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