JAKARTA – In the last few days the price of Bitcoin has fallen deeper. The drop in Bitcoin also caused the price of altcoins to fall sharply. The current decline in the price of Bitcoin is said to have reached its lowest position since the beginning of 2021.
The price of BTC plunged below 30.000 US dollars, briefly touching the price of 28.228 US dollars per coin. The drop saw Bitcoin drop to its lowest price since January 4, 2021.
Data reports from Coingecko reveal that the price of Bitcoin has decreased by 25.5 percent in the past week. On May 5, BTC was trading at IDR 570.212.318. However, on May 12, the price of BTC plunged to IDR 426.494.633 per coin.
The Daily Hodl reported on Wednesday at 20:50 p.m. UST the price of Bitcoin fell from USD 29.000 (approximately IDR 422.183.450) to USD 28.228 (around IDR 410.944.635) in less than 5 minutes.
While the number two crypto, Ethereum (ETH) is also experiencing a significant decline. ETH touched 2.000 US dollars per coin (IDR 29.118.100) as its support level. ETH is currently trading at the level of IDR 30.661.423.
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Ethereum, which is predicted to overtake Bitcoin, is also dragged down by BTC price movements. Ether is down 27.7 percent in the past week. In the last 24 hours ETH has fallen 11.7 percent.
Another altcoin that recently experienced a price spike is now experiencing a deep correction. ApeCoin is down 59.1 percent in the past week. APE is currently trading at the level of IDR 91.891. Down 76 percent from the all-time high price (ATH) at the level of IDR 387.532 which was recorded on April 28.
Crypto traders are in chaos. Coinglass reports in the last 24 hours more than 1 billion US dollars was liquidated from the crypto market.
Of these, Terra LUNA has experienced the steepest decline, which has fallen more than 95.2 percent in the last 24 hours. On May 5, LUNA was trading at IDR 1.25.704. Currently, LUNA is trading at IDR 10.815, data from Coingecko shows.
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