Bitcoin price plunge: Why are crypto prices dropping this time?
Cryptocurrency is facing yet another big price plunge.
Bitcoin dropped to the $84,000 range on Thursday, the lowest price it's seen in 2026 so far. Other cryptocurrencies like Ether and Doge also experienced falling prices, with values being down as much as 6 percent.
Crypto analysts suggest that this is a crucial price point for cryptocurrencies like Bitcoin to maintain or its valuation may continue to drop.
As crypto outlets point out, the price drop of Bitcoin and other cryptocurrencies didn't happen in a vacuum. The stock market, especially tech stocks like Microsoft, took a huge dive on Thursday. Crypto-related stocks also took a big hit as well.
As investors sell off investments, crypto holdings traditionally take a big hit as one of the more riskier bets. According to Coindesk, investors have liquidated more than $650 million across all crypto assets during the Thursday selloff.
Some analysts believe that Bitcoin could see its prices drop below $80,000 in the near future.