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plunged by more than five per cent this morning to hit a three-week low, leaving the troubled cryptocurrency down more than half since the start of the year. The digital token fell as much as 7.7 per cent to $21,404 (£18,057) over a few minutes in early trading, before recovering slightly to reach $21,714 (£18,311) by just after 10.30am. On January 1 a single Bitcoin cost $47,733 (£40,316).   The world's second largest cryptocurrency, Ether, also fell today by 5.36 per cent to reach 1$,736 (£1,464). It was not immediately clear what sparked the price falls, with the Nasdaq composite - a New York index of technology stocks that is traditionally seen as a barometer for the crypto market - adding 0.2 per cent last night. However, some analysts suggested it could be due to a 'risk off' attitude among crypto traders, with global markets also down today and the dollar - traditionally seen as a safe haven - experiencing a rally. Â
(Image: [[|]]) [[|external site]] The MSCI world equity index, which tracks shares in 47 countries, is down 0.3 per cent today.Â
The FTSE 100 is treading water, ì°ë¦¬ì¹´ì§ë ¸ëë©ì¸ marginally up 13.71 at 7555.56 at 10.45am.Â<br>/p>Equity investors are cautious after US Federal Reserve officials signalled there was more work to do on interest rates, ì°ë¦¬ì¹´ì§ë ¸ëë©ì¸ with the only difference being on how fast an gh <br>o. RELATED ARTICLES
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The dollar benefitted from the Fed's hawkish comments, hitting a one-month high.
The dollar index was up 0.2 per cent at 107.7 and the euro was trading $1.<br> The euro has lost 1.7 per cent versus the dollar so f his<br>k.Experts predicted Bitcoin could have further fal<br> 'In the short term, correlation risks are heightened as equities, especially technology names, are delicately poised at key resistance levels,' Jamie Douglas Coutts, senior market structure analyst at , wro est<br>y. external site Ainsley To, Marc Chan and Noelle Acheson, from Genesis Trading, added: 'After a steady climb in the first half of 2022, the amount of Bitcoin that has not moved in over a year has leveled off, signaling a pause in the accumulation behavior of longer-term inve s.'<br> Bitcoin was the original digital currency started in 2009 to bypass central banks, and an increasing number of offshoot currencies have been founded in recent years as well as digital art called non-fun e t<br>s.They have all been sharply decreasing in value over the past few days including one currency - Luna - that lost 99 per cent of its value as fears for the global economy spread and investors start to sell off y a<br>s.The news sparked despair on crypto forums, with investors lamenting their lost fortune  <br> <div class=“art-ins mol-factbox news” data-version=“2” id=“mol-69560d00-1fa7-11ed-987e-5d641e8fe441” website cryptocurrency price drops by 5% to a three-week low