Bitcoin continues to collapse and lose more than 50% of its value

Bitcoin extended its losses, falling near $34,000, posting losses of more than 50 percent of its value since its record high in November.

Bitcoin, the largest digital asset, extended its decline on Saturday, losing more than 50 percent from its high in November, adding more impetus to the cryptocurrency’s collapse.

It fell to $34,042.78 on Saturday, down 7.2 percent, before paring most of those losses.
On Friday, Bitcoin fell 6 percent to $38,250, continuing its decline to 7.2 percent.

Bitcoin’s drop since its November high has wiped out more than $600 billion from its market capitalization, and lost more than $1 trillion from the overall crypto market.