Highlights

  • Bitcoin is now nearly 30% below its all-time high close to $69,000
  • Bitcoing down over 17% over the weekend

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Bitcoin's wild weekend, down 30% from recent high as investors lose $10,000 in one hour

Bitcoin slowly recovered after dropping nearly $10,000 in roughly an hour to as low as around $42,000 early Saturday

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.

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