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Bitcoin Rally Slows as Price Drops Below $400
After days of positive growth, the price of bitcoin on the CoinDesk USD Bitcoin Price Index dropped $40 to fall below $400 today.
The price of bitcoin dropped $40 from its opening value of $408.74 today to fall below $400. The decline comes one day after the price of bitcoin peaked at $492.40, passing $500 on select bitcoin exchanges and brokerages across the globe.
According to the CoinDesk USD Bitcoin Price Index (BPI), the digital currency declined 5% over the course of the day, reaching a press time total of $389.59.
STORY CONTINUES BELOW
Today's high of $447.25 was reached at 3:04 UTC.
CoinDesk's CNY Bitcoin Price Index
showed more marked downtrends although the digital currency's value was slightly higher than the USD equivalent.
At the time of press, bitcoin was valued at ¥2,648.02 (approximately $417), a decrease of approximately 9.5% from today's opening at ¥2,932.14 ($462.09).
Pete Rizzo contributed reporting.
Downward arrow image via Shutterstock.
