Bitcoin holds drop, set for worst month since May crypto rout

Crypto converts expect the Bitcoin bull market to return in time and point the digital asset back at the record high of almost US$69,000 (RM288,592) hit last month. — Bloomberg

Bitcoin is holding onto its recent drop, leaving the token on course for its worst monthly drop since the cryptocurrency rout in May.

The volatile token was trading at about US$48,000 (RM200,760) as of 1.40pm. Wednesday in Singapore, following a near 7% drop from a day earlier. It’s retreated some 16% this month, while the wider crypto universe has shed about US$260bil (RM1 trillion) of market value over the period, according to tracker CoinGecko.