Bitcoin prices have been suffering lately, falling to almost $42,000 today and reaching their lowest in more than three months.

The world’s largest digital currency by market capitalization dropped to as little as $42,102.35 this afternoon, according to CoinDesk data.

At this point, the cryptocurrency was trading at its lowest since February 8, additional CoinDesk figures reveal.

These latest declines fit into a trend of more sustained weakness, as bitcoin has lost more than 30% since reaching an all-time high of nearly $65,000 in mid-April.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

‘Bitcoin Is Melting’

Yesterday, Michael Kramer, founder of Mott Capital Management, LLC, wrote a blog post stating that “Bitcoin is melting.”

At the time he wrote the piece, the cryptocurrency was trading close to $44,000, and Kramer noted that the digital currency “may have further to fall.”

Several
Source…