With bitcoin prices dropping further early on Sunday, the cryptocurrency now looks to be heading for its worst weekly loss in over 5 years.
At press time, the leading cryptocurrency by market capitalization is trading at $3,520 on Bitstamp, representing a 36 percent drop from Monday's opening price of $5,553. Unless the bulls can pull off a recovery, it's looking to be the biggest weekly drop since the second week of April 2013, when prices fell 44.8 percent from $165 to $91.
For the weekly loss to be confirmed on the charts, BTC must close today (as per UTC) below $3,887, or the resulting weekly loss would be the second biggest of 2018 – the first being the 30 percent drop witnessed in the last week of January.
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