The world most popular cryptocurrency Bitcoin slid to 2 weeks low below $45,000.
The cryptocurrency was unable to retain its gains of $50,000 but fell to $44,279 which is the lowest fall since February 11th.
At the recent price of $44,300, bitcoin has so far lost 22 per cent in the space of one week.
According to a data provider, If these losses continue through Sunday it could result in the biggest loss since the second week of March 2020 when it experienced a huge loss of 33 per cent.
Bitcoin witnessed all high price gains from $10,000 to above $58,000 within 5 months and has dominated the price action since the crash of March 2020 to October.
At the start of the week, bitcoin showed signs of weakness after Tesla’s CEO, Elon Musk said that “BTC do seem high lol,” which suggests that its price is too high.
In the same week, bitcoin fell by 15 per cent on Monday and Tuesday which is the biggest two-day correction in the past 11 months after rising to high records of $58,000 on Sunday.
