bitcoin’s price nearly hit $9,000 on Thursday, a move that came hours after the cryptocurrency briefly went back above $10,000.
According to CoinDesk’s bitcoin Price Index (), the price hit a low of $9,075.87 before recovering. At press time, the cryptocurrency’s value is hovering around $9,287.00. The development is a notable one, coming roughly a day after the market saw during afternoon trading.
Observers attributed Wednesday’s move to several factors, including issues at cryptocurrency exchange , from the U.S. Securities and Exchange Commission about exchange compliance and a report from the trustee of revealing that some $400 million in bitcoin and bitcoin cash had been liquidated over a several-month period.
It’s less clear what drove today’s market move. Indeed, some speculators suggested that the price could test lower levels, with some predicting a slide to as low as $7,000. Should bitcoin’s price fall below $9,000, it would represent the lowest level since Valentine’s Day on February 14, market data shows.
Additional information published by cryptocurrency information provider shows that all of the top-10 cryptocurrencies by market capitalization are down today. Of those, cardano and bitcoin cash have dropped the most in the past 24-hours, falling by 8.59 percent and 6.95 percent, respectively.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
Published at Thu, 08 Mar 2018 17:49:56 +0000
Markets
