Bitcoin is having a terrible first quarter, in fact the worst its ever seen. The price of the cryptocurrency has fallen from $13,412.44 on January 1 to $7,266.07 on March 30, marking a more than 45 percent decline, according to data from CoinDesk, a site which tracks the price of different digital coins.
The quarter ends on Saturday. So far this quarter, $114.9 billion of market capitalization or value has been wiped off of bitcoin.
The price decline this quarter is the biggest first quarter decline in bitcoin’s history. The previous biggest decline was a near 38 percent fall in the price in the first quarter of 2014, according to data from CoinDesk.
It tracks the price of bitcoin back to the middle of 2010. CNBC looked at bitcoin’s price performance in the first quarters of each year beginning in 2011.
Bitcoin has recorded a decline in 5 of the 8 first quarters tracked, which includes the current 2018 Q1. The biggest price rise was a 599 percent surge in the price of bitcoin in the first quarter of 2013. Read more from cnbc.com…
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