Bitcoin still has a hangover from it's wild trading weekend that sent the cryptocurrency tumbling more than 17% in just 24 hours. In fact Bitcoin slid over $10,000 in just 1 hour with no identifiable trigger except the risk-off attitude of the market with Omicron spread increasing.
The weekend's sudden decline marks bitcoin’s biggest price drop since a May sell-off when it slumped from over $43,000 to under $32,000 over a 24-hour period, a nearly 27% decline.
Billionaire investor Charlie Munger also reiterated his 'dislike' for the volatile digital token as he said addressing an audience that he wishe they’d never been invented.”
“I admire the Chinese, I think they made the correct decision, which was to simply ban them,” Munger added.
The popular cryptocurrency officially entered bear market territory on Nov. 26.