The Bitcoin price is down 9% over the past week alone, with most of the major altcoins performing even worse
The price of Bitcoin (BTC) slipped to $41,777, the lowest level since March 23 at 00:23 UTC on the Bitstamp exchange.
The Bitcoin 2022 conference, which took place in Miami last week, expectedly failed to push the price of the largest cryptocurrency higher.
Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, called the conference “disturbing”, adding that it was not “good insight” for the industry in a recent tweet.
Bitcoin is down roughly 9% over the past week after repeatedly failing to gain footing above the $47,000 level in early April. As reported by U.Today, Terra’s $176 million Bitcoin purchase that took place on Sunday failed to prop up the price of the flagship cryptocurrency.
Most of the other top altcoins have performed even worse than Bitcoin over the past seven days, with Solana (SOL) and Terra (LUNA) losing 19% and 22% respectively over the past week.
