The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.
Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.
Earlier in the day’s trading, the price had climbed as high as $7,330.06, with today’s low marking a more than $600 decline since that level.
At press time, bitcoin is trading at $6,567.86.
Roller coaster image via Shutterstock
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Published at Fri, 10 Nov 2017 19:09:38 +0000