Bitcoin Rally Slows as Price Drops Below $400
After days of positive growth, the price of bitcoin on the CoinDesk USD Bitcoin Price Index dropped $40 to fall below $400 today.
![bitcoin price drop](https://www.coindesk.com/resizer/7DVqCqkrVsEAOFUuRvuIwNdXizU=/567x378/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FBXM5H6KMNFOPIJWKBA7M3SYTY.jpg)
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](https://www.coindesk.com/resizer/prjgtPi9r8A1bEMuVxt9EVTGS_U=/560x311/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/JLS6DMGOOVDEZEWFXF4PNPGIKE.png)
Today's high of $447.25 was reached at 3:04 UTC.
showed more marked downtrends although the digital currency's value was slightly higher than the USD equivalent.
![CoinDesk CNY BPI](https://www.coindesk.com/resizer/ZZm5W50q3ZTOGL7F4dQXobvmBl0=/560x275/filters:quality(80):format(jpg)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/73CNLA5ALJBHDJZR366FG2UKJU.png)
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.