Bitcoin Starts New Week on the Ropes After Dipping to $41K

Alex Dovbnya

The Bitcoin price is down 9% over the past week alone, with most of the major altcoins performing even worse

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Mon, 11/04/2022 - 7:03

Bitcoin Starts New Week on the Ropes After Dipping to $41K

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The Bitcoin (BTC) price slipped to $41,777, the lowest level since March 23, at 00:23 UTC on the Bitstamp exchange.

The Bitcoin 2022 conference, which took place in Miami last week, expectedly failed to push the price of the largest cryptocurrency higher.

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, described the conference as “troubling,” adding that it wasn’t “a good look” for the industry in a recent tweet.

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Bitcoin is down roughly 9% over the past week after repeatedly failing to gain footing above the $47,000 level in early April. As reported by U.Today, Terra’s $176 million Bitcoin purchase that took place on Sunday failed to prop up the price of the flagship cryptocurrency.

Most of the other top altcoins are performing even worse than Bitcoin over the past seven days, with Solana (SOL) and Terra (LUNA) shedding 19% and 22%, respectively, over the past week.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.