The price of bitcoin dropped $40 from its opening value of $408.74 today to fall below $400. The decline comes one day after the price of bitcoin peaked at $492.40, passing $500 on select bitcoin exchanges and brokerages across the globe.

According to the CoinDesk USD Bitcoin Price Index (BPI), the digital currency declined 5% over the course of the day, reaching a press time total of $389.59.

BPI November 5

Today’s high of $447.25 was reached at 3:04 UTC.

CoinDesk’s CNY Bitcoin Price Index showed more marked downtrends although the digital currency’s value was slightly higher than the USD equivalent.

CoinDesk CNY BPI

At the time of press, bitcoin was valued at ¥2,648.02 (approximately $417), a decrease of approximately 9.5% from today’s opening at ¥2,932.14 ($462.09).

Pete Rizzo contributed reporting.

Downward arrow image via Shutterstock.

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