Bitcoin's Price Slips Below $7,000
The price of bitcoin has slid below $7,000 just a day after climbing above the $7,600 level.
The turnaround represents a more than $400 decline amid today's trading, according to data from the CoinDesk Bitcoin Price Index (BPI). As previously reported, prices jumped to an all-new high yesterday before starting to pull back as Monday's trading got underway.
The tumble below $7,000 began around 18:58 UTC, according to the BPI, with the market slipping as low as $6,948.57.
At press time is trading at around $6,989.64, a decline of roughly 5.6 percent on the day.
Broader market data indicates that the fall in the price of bitcoin stands in contrast with market developments for other cryptocurrencies.
For example, per data from CoinMarketCap.com, the privacy-oriented cryptocurrency monero's price is up more than 13 percent in the last 24 hours. Ethereum, the second-largest cryptocurrency by market capitalization, has risen roughly 2.5 percent during the past day of trading.
Roller coaster image via Shutterstock
It's back above 7k. I still think rally towards the Nov 16 hardfork and then a correction back down to lower 6k or upper 5k is possible beyond end of November.
Thanks for the insight @mdo. Another good crypto to know about right now is Musicoin. FYI: Here's a post with some detailed info about Musicoin's UBI implementation.
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