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Bitcoin's Price Is Down More Than $500 After Hitting a New High
Bitcoin prices have fallen below $4,000 hours after hitting a new all-time high.
Bitcoin prices have fallen below $4,000 hours after hitting a new all-time high.
According to the CoinDesk Bitcoin Price Index (BPI), bitcoin markets hit a low of $3,892.72 – more than $500 below the high of $4,483.55 reached earlier this morning. At press time, the price of bitcoin is trading at around $3929, more than 10 percent below the day's open.
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The drop below $4,000 came just days after the market crossed that threshold for the first time, a move quickly followed further price increases. Given that the market hit a low of $1,990 a month ago, this morning's rise signified a nearly $2,500 increase within that period.
Other cryptocurrency markets are seeing price declines today as well.
, the cryptocurrency of the ethereum network, are down more than 5 percent, trading at roughly $282 at press time. According to data from CoinMarketCap, all of the top-10 cryptocurrencies are down today.
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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