Crypto meltdown deepens as stablecoin Tether drops below dollar peg

Thursday, May 12, 2022 - 4 min read

What you need to know:

Bitcoin, the largest cryptocurrency by market cap, hit a low of $25,401.05 on Thursday, its lowest level since Dec. 28, 2020.
In the past eight sessions, it has lost almost a third of its value, or around $13,000, and is down more than 45 percent so far this year.
Bitcoin is also down nearly two-thirds from a peak of $69,000 in November 2021.

Note: The results are not exact but very close to the actual.