Bitcoin fell to $41,900

Bitcoin fell to $41,900

On the night of December 4, Bitcoin dropped to $41,900, and the entire cryptocurrency market followed suit, falling by 22%.

All digital currencies also declined in value. For instance, Ethereum—the world's second-largest cryptocurrency—fell by 14.91% to $3,890;

Litecoin dropped by 24.96% to $153.20;

and Monero fell by 18.76% to $195.90.

The decline was triggered by a volatile week across financial markets. Following the cryptocurrency downturn, global stocks and their yields also fell on Friday. Furthermore, these events unfolded against the backdrop of the emergence of the new Omicron coronavirus variant, which kept investors in a state of tension and uncertainty.

On November 10, the price of Bitcoin hit a new all-time high, climbing to $69,000.

On November 14, Bitcoin's first major update in four years—dubbed Taproot—was released.