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Bitcoin drops below $5,000, hitting the lowest level in over a year

It's a fall of more than 13 percent.

Headshot of Abrar Al-Heeti
Headshot of Abrar Al-Heeti
Abrar Al-Heeti Senior Technology Reporter
Abrar's interests include phones, streaming, autonomous vehicles, internet trends, entertainment, pop culture and digital accessibility. In addition to her current role, she's worked for CNET's video, culture and news teams. She graduated with bachelor's and master's degrees in journalism from the University of Illinois at Urbana-Champaign. Though Illinois is home, she now loves San Francisco -- steep inclines and all.
Expertise Abrar has spent her career at CNET analyzing tech trends while also writing news, reviews and commentaries across mobile, streaming and online culture. Credentials
  • Named a Tech Media Trailblazer by the Consumer Technology Association in 2019, a winner of SPJ NorCal's Excellence in Journalism Awards in 2022 and has three times been a finalist in the LA Press Club's National Arts & Entertainment Journalism Awards.
Abrar Al-Heeti
Bitcoin

Bitcoin hit its lowest level in more than a year.

 Peter Kovalev/Getty Images

Bitcoin plummeted to its lowest level in over a year on Monday, according to CoinDesk.

As of press time Monday afternoon, the cryptocurrency fell to $4,805.62, according to the data. That's a drop of more than 13 percent. 

Bitcoin is a digital currency (aka cryptocurrency) that's seen its fair share of fluctuations in value over the past year. On Thursday, Bitcoin fell below $5,500, which at the time was the lowest point of the year. In December 2017, it was worth more than $17,000.

On Monday, bitcoin opened at $5,548.29 but soon fell to $5,165, according to CoinDesk, the lowest level since Oct. 18, 2017. 

The cryptocurrency hit a 24-hour low of $4,708.86 and a high of $5,610.15. On this day last year, bitcoin was trading above $7,600, according to CoinDesk.

Other cryptocurrencies like ethereum, tron and XRP also had losses of 15 percent, 16 percent and 4 percent, respectively. 

About the Author

Headshot of Abrar Al-Heeti
Senior Technology Reporter
Senior Technology Reporter

Abrar's interests include phones, streaming, autonomous vehicles, internet trends, entertainment, pop culture and digital accessibility. In addition to her current role, she's worked for CNET's video, culture and news teams. She graduated with bachelor's and master's degrees in journalism from the University of Illinois at Urbana-Champaign. Though Illinois is home, she now loves San Francisco -- steep inclines and all.