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.

Mar 18, 2017 at 3:11 a.m. UTC
Updated Sep 14, 2021 at 1:57 p.m. UTC

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.


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