Bitcoin Price Correction Wipes Nearly $4 Billion Off Value

Nearly $4 billion has been wiped off of the value of Bitcoin in the past four days due to a price correction. The cryptocurrency's value fell almost 19% from its recent record high, hitting an intra-day low on Monday at $2,267.73.

This represents a more than $520 drop since the record high of $2.791.69 hit on May 24, according to data from CoinDesk.

In response to the correction, Bobby Lee, CEO of BTCC, stated that 'the correction was actually quite brief, the prices today are still higher than that of a week ago.'