Bitcoin's Price Is Now Down 20% from Its $5,000 High

Bitcoin appears to be moving into a new period of price discovery.

Following a new ruling that finds China's regulators moving to outlaw initial coin offerings (sales of new cryptographic tokens often exchanged for bitcoin), the bitcoin price fell to its lowest total since August 22 today.

At press time, bitcoin had declined to just above $4,000 – halting at $4,037.50 across global exchanges – a 20% decline from its all-time high of $5,013 observed on September 1.

Of the exchanges tracked in the BPI, just one was trading below $4,000 at the time of the report, with China-based OKCoin displaying a $3,969 price. (Paxos's itBit exchange, Coinbase's GDAX exchange and Bitstamp were all trading above $4,000).

Full story at http://bit.ly/2gISBal

Source: CoinDesk

 

 

 

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