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Bitcoin crashes and then rises again in latest cryptocurrency twist

Andrew Griffin
·1-min read
The price of bitcoin has been trading sideways since early December 2021 (Getty Images)
The price of bitcoin has been trading sideways since early December 2021 (Getty Images)

Bitcoin has crashed – and then almost instantly risen again, to higher prices than it was before.

It is just the latest twist in a difficult start to 2022 for the cryptocurrency, which has plunged dramatically since it hit record highs in November.

Bitcoin is already on its longest losing streak since 2018, and experts fear that movements in the future could lead it to drop even further before any possible recovery.

On Monday, bitcoin suffered a tough day before a dramatic crash that it took it below $40,000, thought to be an important price for the fortunes of the cryptocurrency. Experts had feared that if bitcoin dropped through that price, it could go into further falls as market confidence continued to wane.

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In fact, though, the cryptcocurrency went straight back up again, to a higher price than it was before that small crash.

The price was at $40,700, dropped to $39,700 within minutes, and was then trading back at above $41,000 just moments later.

:: Read the latest on bitcoin in our cryptocurrency live blog here. ::