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Bitcoin Falls Below $800 As Volatile Week Continues
Bitcoin prices tumbled more than 10% in morning trading, dipping below the $800 mark.
Bitcoin prices tumbled more than 10% during morning trading, dipping below the $800 mark.
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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.
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.
The price is currently trading at around $804, BPI data shows.
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.
Image via Shutterstock
Stan Higgins
A member of CoinDesk's full-time Editorial Staff since 2014, Stan has long been at the forefront of covering emerging developments in blockchain technology. Stan has previously contributed to financial websites, and is an avid reader of poetry.
Stan currently owns a small amount (<$500) worth of BTC, ENG and XTZ (See: Editorial Policy).
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