The value of the Bitcoin cryptocurrency plunged below RM90,000 for 1 Bitcoin. When the article was written the value of Bitcoin was around RM89,000. This sudden drop erased the increase in the value of Bitcoin since the beginning of this month which reached a value of RM108,720 last August 13.
The reason why the value of Bitcoin fell this time is still unclear. But its value has consistently declined with just last week it plummeted below RM95,000 after rising for a while in what was seen as no market recovery. As usual the drop in Bitcoin price also affects other major cryptocurrencies.
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BUSINESS & MONEY