Bitcoin crashes below $80k, Pi Coin falls over 10 per cent

WEB DESK: Bitcoin entered the final trading day of the month in the red, as the world’s largest cryptocurrency was trading lower than its Thursday close of $84,742.48. Bitcoin opened trading above $84,000, recording $84,723.68 around 00:00 UTC, just $18.80 lower than its previous close.

However, shortly after, it began to decline, dropping to $81,786.11 by 01:35 UTC, marking a notable loss of $2,956.31.

Bitcoin did not manage to recover from this loss despite experiencing fluctuations and further dropped to $79,886.86 around 02:51 UTC, losing an additional $4,855.62.

The most significant fall occurred around 05:54 UTC, when Bitcoin plunged by $5,397.99 to $79,344.49. At the time of writing, Bitcoin remains down nearly 6 per cent, with a loss exceeding $5,000.

In Pakistani currency, Bitcoin is currently valued at Rs22,427,546.54 (PKR 22.4 million).

Other cryptocurrencies are also experiencing declines. Ether (ETH) is down by 7.97 per cent, or $183, to $2,123.62. Dogecoin (DOGE) has fallen by 9.77 per cent, or $0.0202, to $0.1869, while Binance Coin (BNB) is down 6.05 per cent, or $36.60, to $568.90.

Pi Coin also saw a mini crash today, despite hitting an all-time high of $2.97 on Wednesday. It has now declined significantly to $2.26, despite predictions that it might surpass the $3 level.

Despite recent losses, analysts and investors are closely watching potential developments that could push Pi Coin’s price higher in the near future. Many expect that Pi Coin might soon be listed on Binance, which would be a major milestone.

However, long-term success depends on real-world adoption. Some predictions suggest that Pi Coin could rise to as high as $500 by 2030, particularly if businesses and developers integrate Pi, making it more than just a speculative asset.

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