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Bitcoin Falls Below $4000 in 400 Days Low

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After a 4 day period of Bitcoin being dormant at $4200, it abruptly dropped below $4000. At around 16:20 UTC, the largest cryptocurrency in the world fell below even $4000 mark, following the trend.
Earlier this month, Bitcoin had hit a fresh low in over a year with getting below $5000 and the trend does not seem to stop right now.

According to Coindesk's Bitcoin Price Index, Bitcoin fell to an average price across exchanges at $3,970.43, which was 7.5 percent less than the opening figure of $4,298.83

At press time, BTC price was already down to more than 30 percent in the last seven days alone, which currently is 81 percent below its all-time high of 20,000$ set in December last year.

At press time, BTC price was already down to more than 30 percent in the last seven days alone, which currently is 81 percent below its all-time high of 20,000$ set in December last year.
While the market is still at considerable losses against the USD, other cryptocurrencies like XRP (XRP), ethereum (ETH) and dash (DASH) have experienced a 2 percent increase in their value.

Out of the world's top ten cryptocurrencies- bitcoin cash (BCH), stellar (XLM), monero (XMR) and cardano (ADA)- all are facing above 10 percent losses in the last 24 hours according to data from Coinmarketcap.
The effect of falling of cryptocurrency can be seen across the market as the value fell more than 30 percent in just last seven days. The market was valued at $182 billion which has now fallen by $54 billion and currently stands at $128 billion, the lowest since September 2017.

Experts claim that the price drop may halt at or around 3000$ .

Crypto's commentators took no time in tweeting about the sudden market movement . Ran NeuNer said that he never expected to see Bitcoin fall below under $4000. Ran NeuNer tweeted," I must admit , I never thought we would see this again."
Steven Zheng of The Block retweeted a joke highlighting an alert for when BTC falls below $1.00 with the caption, "Just setting up my Coinbase alert."
Experts claim that the price drop may halt at or around 3000$ .

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