News  •  Prices

Bitcoin Falls Below $800 As Volatile Week Continues

(@mpmcsweeney) | Published on January 11, 2017 at 13:29 BST


Bitcoin prices tumbled more than 10% during morning trading, dipping below the $800 mark.

Markets saw an average low of $779.54, according to the CoinDesk Bitcoin Price Index (BPI), the first time the price has been reported below $800 since 21st December. The drop came after the price traded just above $900 during overnight activity, and represents a nearly 39% fall from the 2017 peak of around $1,153.

2017 has been a volatile year thus far for the digital currency’s price. The start of the week saw the price shift above and below $900 as concerns over rumors of new regulations coming out of China circulated on social media, though market observers appear to be split on what the long-term impact may be.

The price is currently trading at around $804, BPI data shows.

CNY-denominated markets are down more than 9% at press time, averaging ¥5,405.69, according to the BPI, after falling to a low of ¥5,194.32.

Image via Shutterstock


Don't miss a single story

Load Comments