February 24, 2022, 12:50am
The price of the virtual currency dropped below $35,000 for the first time since January as Russia began its military operation in Ukraine, a selloff that some analysts have warned could continue until tensions in eastern Europe calm.
It was the first time in several months that the digital currency fell.
The price of the world's most valuable coin dropped more than 9% in the previous 24 hours before climbing back over $35,000 after midnight.
Since hitting a record high of more than $69,000 in November, the market value of the cryptocurrencies has lost $600 billion.
In the past 24 hours, the world's second largest coin has lost more than 12% of its value.
In contrast, the price of oil continued to shoot up, with the price of oil crossing $100 per barrel for the first time in three years.
This is not a finished story.
All Rights Reserved © 2024
