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Bitcoin Sinks to Lowest Price in Over 12 Months

Bitcoin fell to its lowest price in over 12 months on Wednesday amid a broader cryptocurrency market sell-off.

Nov 14, 2018 at 4:49 p.m. UTC
Updated Sep 14, 2021 at 1:53 p.m. UTC

Bitcoin (BTC) fell to its lowest price in over 12 months on Wednesday amid a broader cryptocurrency market sell-off.

According to CoinDesk price data, as of press time, bitcoin's lowest point in today's session is $5,669 - the lowest reported price figure since Nov. 11 of last year. Wednesday's session opened at $6,297.96.

Its price has since slightly recovered, now trading at an average price of about $5,804.54, representing a roughly 7.9 percent decline over the past 24-hours.

The sharp fall in bitcoin's price was accompanied by steep sell-offs in other cryptocurrencies and digital assets as well.

According to data published by OnChainFX, tokens such as MANA and BAT and DNT are down in excess of 20 percent in the past 24 hours.

In total, the capitalization of the entire cryptocurrency market lost as much as $24 billion in value over the last 24 hours, registering at $190 billion as of press time, according to CoinMarketCap.

Amusement park ride image via Shutterstock

Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.

DISCLOSURE

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.

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