Bitcoin had a rough weekend. Coming off a week of heavy losses, bitcoin fell as much as 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDesk. That was the cryptocurrency's lowest level since September 2017. It later recovered to roughly $3,945 as of 6 p.m. ET. Over seven days, bitcoin has now lost more than 35 percent of its value, according to CoinDesk. This marks its biggest one-week drop since April 2013, when the cryptocurrency fell more than 44 percent, according to CoinDesk. Watch: Gary Shilling: Bitcoin is 'some kind of a grand Ponzi scheme'

The recent downturn started in mid-November, when bitcoin first abruptly fell below $6,000. Since then, the world's largest cryptocurrency continues to find new lows and has struggled to break out of the $4,000 range. The November losses are a notable reversal from bitcoin's surprisingly stable October. The cryptocurrency had been trading comfortably in the $6,400 range after a volatile year, while major U.S. stock markets fluctuated.

A photo illustration of the digital Cryptocurrency, Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are seen on September 13 2018 in Hong Kong, Hong Kong. Yu Chun Christopher Wong | S3studio | Getty Images



Post-Thanksgiving, sentiment surrounding bitcoin has changed drastically, and certainly since last holiday season. The cryptocurrency was just entering its hot streak thanks to a wave of new retail investors, and climbed to almost $20,000 ahead of Christmas. The weekend losses bring bitcoin's year-to-date drop to more than 75 percent. Major cryptocurrencies XRP and Ether were down as much as 12 and 9 percent respectively, according to data from CoinMarketCap.com.