Bitcoin has plunged back below the $15,000 mark after recovering on Tuesday from a massive sell-off.
According to Coindesk, the cryptocurrency was trading at $14,719 at pixel time, down by six percent, or about $1,000. And on Bitstamp, it was at $14,690 also at pixel time.
Bitcoin has endured a rollercoaster time last week, registering its worst week since 2013, dropping as low as just more than $11,000 on Friday. However, it has since regained some of those losses, shooting to more than $16,000 on boxing day.
Analysts at IG stated: “While previous selloffs have always come at the hands of a significant negative news story, this time it seemed to come out the blue.
“With bitcoin moving lower once more today, it seems that some degree of scepticism remains over quite why we saw such heavy losses despite a lack of negative news flow.”