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, however, 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.
Ether (ETH), the cryptocurrency that powers the ethereum blockchain is trading hands at $264 - its lowest price since November 2017. Likewise, 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.
Image via Shutterstock
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.
Crypto Firms to Congress: We Need Clarity on Blockchain Token Rules
Some 80 representatives from the cryptocurrency and traditional finance industries trekked to Washington, D.C. on Tuesday with a singular message for U.S. lawmakers: we need regulatory clarity on cryp
Japan Regulators Seek Answers in Wake of Zaif's $60 Million Crypto Hack
Japan's top financial regulator is seeking answers from the operator of the Zaif cryptocurrency exchange, a situation that comes days after the trading site disclosed that it lost millions of dollars
Google to Allow Ads for 'Regulated' Crypto Exchanges Next Month
Search engine giant Google has revealed that it will begin allowing cryptocurrency exchange advertisements in the U.S. and Japan, starting in October.
In a new update to its advertising policies, G
Bitcoin Takes a Step Toward Becoming a 'Multi-Network' Cryptocurrency
A proposal to radically expand the capabilities of bitcoin such that it would be able to add vast new features to its limited supply of cryptocurrency has arrived on testnet.
Paul Sztorc, director
Music-Sharing Startup Audius Gives New Details on Twin Crypto Tokens
Soon after closing a $5.5 million funding round, music-focused blockchain startup Audius is revealing just how its network will operate when it launches in roughly a year.
As previously reported, t
Mt Gox Trustee Has Sold $230 Million in Bitcoin, Bitcoin Cash Since March
The trustee for the now-defunct cryptocurrency exchange Mt. Gox has revealed new details about the pace of cryptocurrency sales as part of the firm's bankruptcy and rehabilitation process.
Bearish Cross Hints at More Losses Ahead for Bitcoin Price
Bitcoin (BTC) is on the defensive, having breached crucial support on Monday and could suffer a deeper drop, courtesy of a bearish crossover between key moving averages.
As of writing, BTC is chang
Over 75 New Banks: JPMorgan Expands Blockchain Payments Trial
A major blockchain payments trial launched by JPMorgan, Australia's ANZ and the Royal Bank of Canada has just gained over 75 new banks as participants.
As reported by CoinDesk, the three banks set