Bitcoin Plunges Below $18,000

Bitcoin continues its steep decline dropping below the $18,000 mark on Saturday afternoon.

The largest cryptocurrency was down over 12% in the past day according to Coinbase and is down 62% year-to-date.

Unlike the stock market which trades primarily during business hours Monday thru Friday, Bitcoin trades round the clock, 365 days per year and is especially prone to declines on the weekend.

It’s been a rough week for cryptocurrency after crypto lender Celsius froze all withdrawals on its site, triggering a sell off in Bitcoin and other digital currencies.

Other crypto exchanges including Coinbase, and Gemini have announced layoffs this month.