The price of bitcoin is down more than 8 percent, continuing losses that began after the cryptocurrency slipped below the $7,000 mark.
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 markets traded between $6,357 and $6,750.17. Markets slid below $7,000 earlier today in a reversal of the bullish market moves 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 fall marking a more than $600 decline since that level.
At press time, bitcoin is trading at $6,572.24.
The price decline is in contrast with the gains seen today in the market for bitcoin cash, which according to CoinMarketCap is up more than 43% in the past 24 hours.
At press time, Bitcoin cash is trading at roughly $882 on Bithumb, the largest exchange by trade volume for that cryptocurrency.
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.
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