Bloody Weekend: Bitcoin Plunges Toward $40K, $80B Erased From the Crypto Market Cap

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After the relatively positive Saturday, the bears have returned to the market and pushed bitcoin south to below $41,000. The alternative coins have also suffered badly, with ETH dropping beneath $2,800. Bitcoin Dumps Below $41K It’s safe to say that the past few days didn’t go well for the primary cryptocurrency. The asset was performing well until Friday, when a new set of Chinese ban statements drove it south hard. In a matter of minutes, bitcoin plummeted from above $45,000 to below $41,000. BTC used the Saturday to recover some ground and pushed above $43,000. However, this endeavor was short-lived as it retraced beneath that level almost immediately. It traded around $42,000 for almost a day before the bears regained control once more minutes ago. This time, the cryptocurrency fell as low as $40,800. As of now, it has bounced off and recovered a few hundred dollars, but it’s still about 1.3% down on the day. Bitcoin’s market capitalization had dro
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