KUALA LUMPUR (Jan 7): The price of Bitcoin dropped below the US$44,000 (about RM184,910) zone per unit as the entire crypto economy shed billions in value.
At the time of writing on Friday (Jan 7), the overall crypto economy was down about 4.5%, while Bitcoin was trading at US$41,919.47.
Following a December crash, Bitcoin was trading at around US$50,000.
The crypto market was a sea of red in the morning with lots of other popular coins crashing.
Sussex University professor of finance Carol Alexander believes the value of Bitcoin, in particular, could soon fall even more.
In an interview with British media, she said last month: “If I were an investor, now I would think about coming out of Bitcoin soon because its price will probably crash next year (this year)."
Alexander added that Bitcoin “has no fundamental value” and serves as more of a “toy” than an investment.