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Bitcoin Price Falls Below $200, Hits Six-Month Low
The price of bitcoin on the CoinDesk Bitcoin Price Index has fallen below $200 for the first time since January.
The price of bitcoin fell below $200 today for the first time since 18th January.
STORY CONTINUES BELOW
The plunge saw an average low of $198.23, according to the CoinDesk Bitcoin Price Index (BPI), with the largest decline taking place on BTC-e, which saw a low of $192.
The price has since recovered from those lows to roughly $203 at press time, though prices in some markets, including BTC-e, remain below $200.
According to data from the CoinDesk BPI, the $198 figure is the lowest average price low in the last six months, excluding instances of single-day volatility on individual bitcoin exchanges.
The move follows a day of bitcoin market turbulence and widespread volatility in stock markets worldwide.
The sell-off notably coincided with further market turmoil in China. Reports indicate that the Shanghai Composite Index is falling once more after a historic 9% plunge earlier this week.
Images via the CoinDesk BPI, 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).
