Bitcoin Breaks Below $7K to Fall to 50-Day Low (@arupkumer)

The price of bitcoin is back below $7,000 and commerce at its lowest worth since February. 7

According to CoinDesk's Bitcoin index number, the world's largest cryptocurrency is ever-changing hands at $6,700, a move that follows its steady decline from around $8,000 since the beginning of the Mar. twenty nine commerce session, a fifteen p.c dip among daily.

Stepping back, that worth puts bitcoin at a 51-day low, down forty two p.c from its recent high at $11,660 on Mar. 5, and sixty p.c from its 2018 high of $17,144 determined on January. 7.

However, the 2018 low of bitcoin still remains at $5,947 on Feb. 6, in keeping with CoinDesk's information.

Still, bitcoin's drop additionally follows a broader market decline.

Data from CoinMarketCap shows the capitalisation of all cryptocurrencies is currently at a three-month low of $256 billion, a seventy p.c decline since its 2018 high higher than $800 billion in early January.

Indeed, the highest twenty tokens square measure all showing a ten to twenty p.c sell-off inside the last twenty four hours.

As rumored before, the second to fourth largest cryptocurrencies by volume - ethereum, ripple and bitcoin money - have all hit 2018 low. Earlier in today's commerce session, the value of ethereum additionally poor below $400, the primary time since November last year.

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