Bitcoin Plunges to Below $7K

The price of bitcoin is back below $7,000 and trading at its lowest price since Feb. 7.

bitcoin price

According to CoinDesk’s Bitcoin Price Index, the world’s largest cryptocurrency is changing hands around $6,900, a move that follows its steady decline from around $8,000 since the start of the Mar. 29 trading session, a 15 percent dip within a day.

Stepping back, that price puts bitcoin at a 51-day low, down 42 percent from its recent high at $11,660 on Mar. 5, and 60 percent from its 2018 high of $17,144 observed on Jan. 7.

Still, This drop also follows a broader market decline.

Data from CoinMarketCap shows the market capitalization of all cryptocurrencies is now at a three-month low of $256 billion, a 70 percent decline since its 2018 high above $800 billion in early January.

All Alt Coin Fall along with Bitcoin

Indeed, the top 20 tokens are all showing a 10 to 20 percent sell-off within the last 24 hours.

As reported before, the second to fourth largest cryptocurrencies by volume – ethereum, ripple and bitcoin cash – have all hit 2018 low.

Earlier in today’s trading session, the price of ethereum also broke below $400, the first time since November last year.

BTC Price Plunges to Below $7K

Related articles

US researcher banned for mining bitcoin

Thе U.S. National Science Foundation (NSF) hаѕ banned a researcher fоr uѕing supercomputer resources tо generate bitcoin.In thе semiannual report tо Congress bу thе NSF Office оf Inspector General, thе organization ѕаid it received reports оf a researcher whо wаѕ uѕing NSF-funded supercomputers аt twо universities tо mine bitcoin.Mining iѕ a process tо generate thе […]

Project Longstrike to investigate bitcoin's role

Project Longstrike to investigate bitcoin’s role in organized crime

Onе оf Australia’s primary national law enforcement agencies, thе Australian Crime Commission (ACC), iѕ investigating bitcoin’s role in organized crime in аn official operation knоwn аѕ ‘Project Longstrike’. Aссоrding tо a report published bу Reuters earlier today, ACC Executive Director Judy Lind ѕаid thаt investigators wеrе aware оf аnd wоuld bе monitoring “misuse оf virtual […]

Leave a Reply

Your email address will not be published. Required fields are marked *

*