Bitcoin Sinks $100 As Price Nears $1,000

Bitcoin prices fell to their lowest level in four weeks today amid continued discussion about a potential network hard fork.

AccessTimeIconMar 18, 2017 at 3:11 a.m. UTC
Updated Sep 14, 2021 at 1:57 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now
coindesk-bpi-chart-112

Bitcoin prices fell to their lowest level in a week today, dropping to a low of $1,057 at press time.

In total, the price of bitcoin has fallen $100 since 15:00 UTC yesterday, declining steadily to its lowest point since 10th March, data from the CoinDesk Bitcoin Price Index reveals.

The news comes amid continued discussion about a bitcoin hard fork that, if executed, could result in bitcoin splitting into two separate networks with two distinct 'bitcoin' assets. Today's dialogue was propelled by major exchanges, nearly 20 of which indicated they are taking steps to prepare and safeguard user funds in the event of such a scenario.

Despite the decline, however, bitcoin's price is currently in its longest period above $1,000, stability that has come even amid negative news, including continued uncertainty regarding China's regulatory situation and the rejection of a bitcoin investment vehicle last week.

Bitcoin's decline also comes amid a string of gains by alternative blockchain-based assets, with ethereum's token, ether, and dash hitting all-time highs in recent trading sessions.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about