Markets saw an average low of $779.54, according to the CoinDesk Bitcoin Price Index (BPI), the first time the price has been reported below $800 since 21st December. The drop came after the price traded just above $900 during overnight activity, and represents a nearly 39% fall from the 2017 peak of around $1,153.
Image via Shutterstock
CNY-denominated markets are down more than 9% at press time, averaging ¥5,405.69, according to the BPI, after falling to a low of ¥5,194.32.
The price is currently trading at around $804, BPI data shows.
2017 has been a volatile year thus far for the digital currency’s price. The start of the week saw the price shift above and below $900 as concerns over rumors of new regulations coming out of China circulated on social media, though market observers appear to be split on what the long-term impact may be.
Bitcoin prices tumbled more than 10% during morning trading, dipping below the $800 mark.
Here's why one investor is way more comfortable with marijuana than bitcoin
Cryptocurrency ETFs proved too risky for ETF Managers Group Founder and CEO Sam Masucci, but he threw caution to the wind with his latest marijuana ETF â and it's paying off. "The business is
bitFlyer Launches in Europe and Becomes the World's First Bitcoin Exchange to Be Regulated in Japan, the US and … – Business Wire (press release)
Japan bitcoin bourse group stages Europe expansion Financial TimesWorldÂ´s biggest Bitcoin exchange wins backing for European launch Daily MailBloomberg all 4 news articlesÂ Â»
SEC 'Looking Closely' at Public Company Blockchain Pivots, Says Chairman
The head of the U.S. Securities and Exchange Commission said today that the securities market regulator is "looking closely" at the trend of public companies that have announced new focuses on blockch
Bitcoin Slides More Than 10 Percent to Near $10,000 Level
The price of bitcoin is down more than 10% today, according to CoinDesk's Bitcoin Price Index (BPI).
At press time, the cryptocurrency's price is trading around $10,237.25, a decline of roughly 11.
US Senators Blast Venezuela's Oil-Backed Cryptocurrency Plan
U.S. Senators Marco Rubio (R.-Fl) and Robert Menendez (D.-NJ) have denounced Venezuela's planned cryptocurrency in a new letter.
In an open letter addressed to U.S. Treasury Secretary Steven Mnuchi
Coinbase Taps Twitter Vet to Bolster Customer Support Team
Cryptocurrency startup Coinbase has hired a former Twitter executive in an effort to shore up its customer support teams.
Tina Bhatnagar will serve as vice president of operations and technology, a
IMF Calls for International Cooperation on Crypto
The International Monetary Fund (IMF), an organization that aims to foster global monetary cooperation and financial stability, has called for global coordination on cryptocurrencies, warning of the r
Commodity Merchant Louis Dreyfus Trials Blockchain for Soybean Trade
Louis Dreyfus, a major commodities trading company, has announced that it has piloted a blockchain-based transaction system developed by a group of financial institutions including ING.