According to the portal CoinMarketCap, as of 5.14 GMT Bitcoin had fallen to $9,962. At the Bitfinex exchange, the world's most popular cryptocurrency fell in price by 9.88 percent to $9,917, on OKEx — by 9.83 percent to $9,944. It went down by 1.94 percent to $9,840 according to Coindesk.
Bitcoin is notoriously volatile, often demonstrating wild and unpredictable changes. At the end of November 2017 Bitcoin surpassed the $10,000 mark (on the way up at the time), reaching its record high of $20,000 in December. Since then the cryptocurrency has been on a losing streak.
READ MORE: Bitcoin May Become Digital Equivalent of Gold – Blockchain Architect
READ MORE: No Bitcoin, No Cry: Apple Cofounder Got Cold Feet and Sold All His Coins
The head of the International Monetary Fund (IMF) expressed some concerns that bitcoin is being used to fund illegal activity. Renowned investor George Soros called cryptocurrencies, such as bitcoin, "a typical bubble," whereas Llew Claasen, the executive director of the Bitcoin Foundation, believes that the fall of bitcoin does not mean that cryptocurrencies are speculations.