The price of bitcoin, the world's largest cryptocurrency by market capitalization, fell to its lowest point since April 1 on Tuesday.
92 during the afternoon trading session, dropping more than $280 in the span of two hours, according to data from CoinDesk's Bitcoin Price Index.
This represents the lowest figure since the start of April when the BPI registered a low of $6,443.
As of press time, the BPI is reporting a price of $6,523.
As of press time, bitcoin is down 5.82 percent in the last 24 hours.
Further, on a year-to-date basis, bitcoin is reporting a 60 percent depreciation overall.
Tuesday's session saw downward developments for other major cryptocurrencies as well.
Litecoin, the world's 6th largest cryptocurrency by market capitalization, is now approaching $98 - a price not seen since December of last year.
EOS is also down 12% on the day, representing a total decline of 34% since June 4th. Meanwhile, the total market capitalization of all cryptocurrencies is just over $280 billion, according to data published by CoinMarketCap.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Bitcoin's Price Slides Below $6.5K to Hit 70-Day Low
Published on Jun 12, 2018
by Coindesk | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.