The price of bitcoin is down more than 8 percent today, continuing losses that began after the cryptocurrency slipped below the $7,000 level.
Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1 (when they traded between $6,357 and $6,750.17). The move below $7,000 marked a reversal of the market gains seen earlier this week that pushed the price of bitcoin close to $7,900.
Earlier in the day’s trading, the price had climbed as high as $7,330.06, with today’s low marking a more than $600 decline since that level.
At press time, bitcoin is trading at $6,567.86.
News Source: CoinDesk