The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world's largest cryptocurrency within 2 percent of its 2018 low.
At press time, bitcoin is trading hands at $5,922, printing a 5.
Percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24.
Bitcoin is not alone in the sinking ship as the broader market continues to suffer.
At press time, the total market capitalization of all cryptocurrencies is below $200 billion, its lowest figure yet seen in 2018.
What's more, many of the other big name cryptocurrencies already set their lowest prices of the year this past week.
Blockchain is trading hands at $264 - its lowest price since November 2017.
The XRP price has fallen below $0.30, its lowest price of the year and a more than 90 percent depreciation from it's all-time high over $3 set in December.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin's Price Falls Below $6K to Near 2018 Low
gepubliceerd op Aug 14, 2018
by Coindesk | gepubliceerd op Coinage
Coinage
Vermeld in dit artikel
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.