• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Summit 2021

      International Investment Nordic Summit 

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Cryptocurrencies

Bitcoin kicks off December with an 8% drop

Bitcoin kicks off December with an 8% drop
  • Pedro Gonçalves
  • @PeterHSG
  • 05 December 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Bitcoin is kicking off the last month of 2018 with another downward drop.

After ending November deeply in the red - a 36% drop -, the world's largest cryptocurrency fell as much as 8% at the beginning of the week to a low of $3,790.96, according to data from CoinDesk. That drop marks the biggest monthly loss of the year so far.

Related articles

  • Boerse Stuttgart lists short bitcoin ETP
  • DeVere adds two new cryptocurrencies to app as market remains highly volatile
  • Bitcoin spark fizzles amid app issues and Asian market concerns
  • FCA sounds new Bitcoin alarm

At this time last year, Bitcoin was beginning its climb to almost $20,000 and ended last December up 40%. It entered its hot streak just after Thanksgiving last year, surging in price largely because retail investors were buying in.

Bitcoin is now down 73% since the beginning of January. Twenty-four-hour trading volumes are down 56% since Jan. 1, while the entire cryptocurrency market capitalization has fallen 80%.

"It's been a horrible bear market in tokens," Galaxy Digital Holdings  founder Michael Novogratz said during a conference call recapping his company's third-quarter results.

Other leading digital currencies extended their slide. Ether declined about 2% to $112, bringing its monthly loss to 43%. XRP slumped 4.5% to 36 cents, pushing its monthly loss to 21 percent.

"Part of the sell-off is because, I think, the SEC got tough on a few fraudulent ICOs," Novogratz said. "People got very nervous."

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Cryptocurrencies
  • Bitcoin
  • Crypto

More on Cryptocurrencies

Comment: Are cryptocurrencies the new gold?

  • Comment
  • 19 January 2021
Comment: Why Bitcoin needs greater regulatory scrutiny

  • Cryptocurrencies
  • 15 January 2021
FCA issues warning on cyrptocurrencies as Bitcoin volatility continues

  • Cryptocurrencies
  • 11 January 2021
DeVere's Green sells 'half of bitcoin holdings' over Christmas

  • Cryptocurrencies
  • 04 January 2021
Bitcoin hits all-time high to surge past $20,000

  • Cryptocurrencies
  • 16 December 2020
Back to Top

Most read

SharingAlpha's 2020 top rated funds by category revealed
SharingAlpha's 2020 top rated funds by category revealed
Duff & Phelps opens Gibraltar office
Duff & Phelps opens Gibraltar office
DeVere launches equity fund with Columbia Threadneedle Investments
DeVere launches equity fund with Columbia Threadneedle Investments
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
DeVere Group to offer free ESG advice to clients
DeVere Group to offer free ESG advice to clients
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading