Bitcoin Trades At Lowest Price At Close To $6000 In 2018

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    After a staggering price rise to levels of $20,000 in mid December last year on some of the international crypto exchanges, the price of the top most crypto unit bitcoin since then has been hit hard due to various regulatory clampdown measures taken world across.

    Bitcoin Trades At Lowest Price At Close To $6000 In 2018

    In Sunday's trade, while bitcoin reached to lows of $5787, in Monday's trading session, the currency has pared some of the losses and was seen trading last at $61.63.51.

    Some of the reasons cited for the slump in bitcoin price include higher regulatory implications, ban in many of the countries, multiple hacking or theft and tax sell-offs etc.

    Also San Francisco's Federal Reserve has attributed for the fall in price to bitcoin futures.
    The report titled 'How Futures Trading Changed Bitcoin Prices' said . "The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence".

    This explosive growth ended on December 17, 2017, when bitcoin reached its peak price of $19,511. Notably, these dynamics aren't driven by overall market fluctuations", added the report.

    Goodreturns.in

    Story first published: Monday, June 25, 2018, 12:38 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more