RATE Group | Bitcoin Dips Below $7,000, Hitting Lowest In 2 Weeks
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Bitcoin Dips Below $7,000, Hitting Lowest In 2 Weeks

04 Aug Bitcoin Dips Below $7,000, Hitting Lowest In 2 Weeks

Posted at 22:43h in Bitcoin News by

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Bitcoin prices declined to less than $7,000, hitting a two-week low. Shutterstock

Bitcoin prices fell below the $7,000 level today, reaching their lowest since mid-July.

The digital currency’s price declined to as little as $6,933.09, according to the CoinDesk Bitcoin Price Index (BPI). 

At this point, it was down roughly 6.5% for the day, additional BPI figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin’s Recent Recovery

Since reaching a 2018 low of $5785.43 in June, Bitcoin prices have bounced back, rising to as much as $8,479.33 July 25.

Right around that time, several analysts claimed that the digital currency’s price had hit a local low, signaling a reversal in their trend.

“Bitcoin has indeed bottomed out,” stated Marouane Garcon, managing director of crypto-to-crypto…

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