Bitcoin Price Falls Below $6,000 to Hit New Low for 2018 | Tech News


The price of bitcoin slid below $6,000 on Friday, hitting a new low for 2018.

CoinDesk’s Bitcoin Price Index (BPI) fell to $5,938.18 at 21:51 UTC, surpassing the prior low of $5,947, which occurred on February 6.

As of press time, that figure had risen above that low, with the price of bitcoin averaging $5,977.02, BPI data indicates. All told, the price of bitcoin has declined more than $700 since the start of the day’s trading.

The cryptocurrency’s market capitalization has also dipped, sliding to $102 billion – its lowest of the year – according to the BPI.

As analysis previously suggested, market bears may be back in force following the recent push above $6,700. CoinDesk’s Omkar Godbole wrote earlier Friday that earlier technical charts showed the potential for a drop below $6,000.

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.

Advertisements

You might also like More from author

Comments are closed.