Bitcoin falls below US$46,000, a record low for the cryptocurrency

<p>The Struggle Against Bitcoin Is Not Over</p> <p>Bitcoin fell below the US$46,000 mark overnight as the currency battles to maintain its value.</p> <p>The world's largest cryptocurrency by market capitalisation fell to approximately US$45,600 before rebounding to approximately US$47,000 at 11 a.m. this morning — a tiny dip from its value 24 hours earlier.</p> <p>The drop below US$46,000 caps a difficult six weeks for Bitcoin, which has seen its value plummet precipitously despite reaching an all-time high on November 11.</p> <p>Bitcoin's continued decline in value continues to confound some analysts, who had projected the coin would reach US$100,000 by the end of the year.</p> <p>Even if Bitcoin does rally over the next week or so, it will need to grow enormously in order to achieve a year-end closing price in line with past positive expectations.</p> <p>Despite Traders' Bets for a Rally, Ethereum Drops</p> <p>Meanwhile, Ethereum, the second largest cryptocurrency by market cap, fell below US$3,800 before recovering to US$3,938 at 11 a.m.</p> <p>Numerous traders appear to be betting on an Ethereum rise before the year is through, with Deribit, a cryptocurrency derivatives exchange, reporting on Twitter that one huge fund has spent US$4 million on bullish ETH call options expiring in December with strike prices as high as US$4,400.</p> <p>Deribit, a cryptocurrency derivatives exchange, accounts for the lion's share of volume and open interest in the Bitcoin and Ethereum option markets.</p> <p>Ethereum achieving such a surge in the following week or so is another matter entirely.</p> <p>News About Altcoin</p> <p>In the last seven days, a gaming altcoin has risen by over 95%.</p> <p>DeFi Kingdoms (DFK), a gaming altcoin built on the Harmony blockchain, is a new entrant into the GameFi niche — a sub-niche that blends decentralised finance (DeFi) and the metaverse.</p> <p>The DFK game allows players to purchase non-fungible token (NFT) characters dubbed "Heroes," which they may employ to complete objec