Bitcoin plummets 20% as investors become risk averse

Dec 05, 2021 AlShorts Web Desk

Bitcoin plunged along with other cryptocurrencies on Saturday, another indication of the risk aversion sweeping across financial markets. The largest digital token fell to as low as USD42,296 before paring some of the tumble. It was trading at about USD47,600 as of 1.50 PM (local time) in Singapore on Saturday, a drop of about 11%. Ether fell as much as 17.4% before trimming the retreat to about 10%.