The price of bitcoin dropped $500 in a single hour Sunday to hit a two-month low below $6,700.
According to CoinDesk's Bitcoin Price Index, the world's largest cryptocurrency by market capitalization is now changing hands at $6,718, up slightly after reaching a daily low of $6,647, its lowest total since April 10.
Indeed, data shows that over the last 24-hours bitcoin failed to find solid support in the $7,470 zone, before plummeting 11 percent to $6,647.
For traders, this means bitcoin's two-month uptrend appears to be in question. Trading at around $6,700, bitcoin is now within striking distance of its 2018 low of $5,947 set in February.
With the bitcoin price declining, so too has the market for all cryptocurrencies, with now stands at $295 billion, down from $340 billion yesterday. The figure also marked a two-month low for the broader market.
Nearly all cryptocurrencies listed show a 10-20 percent decline in price over the last 24-hours.
Please follow me.
Thank you have tracking my posts.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://whatsabitcoinworth.com/bitcoin-price-dips-to-two-month-low-below-7k/
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @davidpham-1993! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit