Bitcoin Loses One-Third of its Value to Reach Twelve-Month Low: BTCManager’s Week in Review Nov 26

The price of bitcoin crashed by a staggering 33 percent in the last seven days after uncertainty sparked by the bitcoin cash “hash war” reminded markets in the prior week how volatility cryptoassets still are. Bitcoin dropped from $5,600 on Monday morning to around $3,750 by Sunday afternoon, to reach a new twelve-month low. Bitcoin’s steep price decline was exemplified by a video that showed Chinese miners throw out mining hardware in wheelbarrows to resell them second-hand as mining bitcoin is no longer a profitable venture for them at these…