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The price of bitcoin, the world’s largest cryptocurrency by market capitalization, fell to its lowest point since April 1 on Tuesday.
Bitcoin’s value slid to $6,455.92 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.
The charts suggest a support of $6436 – if current levels are broken, the next major support is $6000, borne from the lows from early February of this year.
As of press time, the BPI is reporting a price of $6,523.86.
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. For instance, 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.
Image via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Author: Sam Ouimet
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