Crypto downward spiral continues as Bitcoin loses nearly 30% of value in one week.

The price of Bitcoin dipped below $30,000 on Wednesday as the crypto market struggles to find an uptick after a nightmarish week.

Bitcoin, which is the Father of all cryptos, and has the largest market value of all coins, has bottomed out at $28,170 in the last few hours, and is currently trading at $28,747, according to CoinMarketCap.com.

And these losses are nowhere near the worst slumps.

Terra Luna, a cryptocurrency designed to support TerraUSD (UST) one to one peg with the US Dollar, has lost 99% of its value in the past week as traders offload the cryptocurrency. 

And Ethereum, the little brother to Bitcoin, has lost around 10% in 24 hours, to dip below $2,100 for the first time in almost one year.  

The crypto crash is working hand in hand with the stock market as they decline as well. The Dow Jones Industrial Average, and the Nasdaq, have continued their declining trajectory since the announcement last week by the Federal Reserve to raise interest rates, and cut back on monetary expansion.