Cryptocurrency bitcoin fell Thursday, along with riskier assets such as technology stocks.
According to Arab Net, it also declined due to the collapse of the TerraUSD, which is described as a stable currency and which lost its peg to the dollar this week.
The world's largest cryptocurrency fell about 2% to $28379.26. Cryptocurrencies lost about $800 billion in market value in one month, according to Bloomberg, citing CoinMarketCap data.
The market witnessed massive selling from investors who wanted to reduce their positions in risky assets.
The market value of these currencies has become $1.4 trillion, after declining from about $2.2 trillion recorded on April 2nd.
The market capitalization is also significantly lower than its peak in early November last year at nearly $3 trillion.
