Bitcoin value drops below $8,500

Bitcoin has had a disastrous week, falling below $8,500 today as investors remain spooked about the future of cryptocurrencies. According to CoinDesk, Bitcoin opened at $9,052 today and hit a low of $7,695. At the time of writing, it had recovered slightly and was trading at $8,403, its lowest price since late November. Bitcoin is extremely volatile and has been declining for the past month.
Other cryptocurrencies including Ethereum, Ripple, and Litecoin have all plunged between 20 to 30 percen