Bitcoin’s price has dropped by more than $1,000 in the last 24 hours.
Bitcoin’s price has fallen by more than $1,000 in the last 24 hours. The cryptocurrency was trading at around $5,300 on October 27th, but this fell to $4,400 within a few hours and it is currently trading at around $4,200. This drop follows a number of other significant drops in recent weeks.
There are many reasons for this drop in value. One of the main reasons is that there is an ongoing debate about whether or not Bitcoin should be regulated as a security or as a currency. The Securities and Exchange Commission (SEC) ruled that Ethereum was not a security back in September 2018, which was seen as good news for Bitcoin and other cryptocurrencies. However, SEC chairman Jay Clayton said on October 22nd that he believes Bitcoin is “a security” because it acts like one.
