Bitcoin, ethereum and other cryptos have fallen sharply since hitting all-time highs late last year
Bitcoin traded below $40 thousand during European trading hours on Monday, reaching its lowest price in nearly a month.
That is despite April being a seasonally bullish month for the largest cryptocurrency when prices have risen seven times in April in the past 10 years.
Ether fell 10 per cent in the past week, and when it comes to meme coins like Shiba and Dogecoin, they even fell as much as 7 per cent.
Analysts said the slide in global markets is to blame
Bitcoin previously saw the $30,000 mark last July before reaching a lifetime high of nearly $69-thousand in November.
Now the race to $1 trillion dollars is on.
The current bitcoin price of just over $40,000 gives it a market cap of almost $800 billion.
So despite loses, If bitcoin, Ether, and other major cryptocurrencies continue to grow at their average annual growth rate, the $1 trillion mark could be hit.
