The world's most popular cryptocurrency has managed to fall under $3800. While crypto traders are convinced the bottom is in sight, Bitcoin has managed to lose over $1,400 in value in just one week
. Supposed catalysts include "the aftermath of the Bitcoin Cash's November 15th fork, an influx of institutional selling orders, the Bakkt Bitcoin futures vehicle delay, regulation measures from the SEC, and, arguably the most convincing, the final bout of capitulation from crypto's 'weak hands
.'" The total market capitalization for cryptocurrencies fell to $138.6 billion Friday, according to CoinMarketCap data, its lowest level since September 2017. Since its peak, the market has lost about $700 billion in value, according to the data. The tumble for bitcoin started abruptly last week when it fell below $6,000 and hit a new low for the year. The plunge followed what had been a surprisingly calm few months for bitcoin and a break from the rest of its volatile trading year.