Bitcoin's Price Falls Below $6K to Near 2018 Low
Bitcoin fell below $6,000 on Tuesday, a decline that brings the price of the world's largest cryptocurrency to within 2 percent of its 2018 low.
The price of bitcoin fell below $6,000 on Tuesday, a move that brought the world's largest cryptocurrency within 2 percent of its 2018 low.
At press time, bitcoin is trading hands at $5,922, printing a 5 percent 24-hour depreciation, according to the CoinDesk Bitcoin Price Index, up slightly from a low of $5,785 set June 24.
Bitcoin is not alone in the sinking ship, however, as the broader market continues to suffer.
At press time, the total market capitalization of all cryptocurrencies is below $200 billion, its lowest figure yet seen in 2018. What's more, many of the other big name cryptocurrencies already set their lowest prices of the year this past week.
Ether (ETH), the cryptocurrency that powers the ethereum blockchain is trading hands at $264 - its lowest price since November 2017. Likewise, The XRP price has fallen below $0.30, its lowest price of the year and a more than 90 percent depreciation from it's all-time high over $3 set in December.
Image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, 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.