RATE Group | Bitcoin drops to two-month low, trading below USD 7,000
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Bitcoin drops to two-month low, trading below USD 7,000

11 Jun Bitcoin drops to two-month low, trading below USD 7,000

Posted at 08:01h in Bitcoin News by

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Bitcoin, the biggest cryptocurrency going by the market cap, saw another round of slide in its valuation taking it to two month’s low on Monday. The currency sunk to $6,709 before recovering a tad later. At the time of reporting, it was exchanging hands at $6,796.

Before Monday, bitcoin touched lowest in last two months on April 10 when it was trading at $6,704, according to the data available at CoinMarketCap. The currency is also within striking distance of its 2018 low of $5,947 set in February.

Bitcoin has been trading flat for the last couple of weeks trading in the zone of $7,500. The uptrend maintained in the last couple of months by the currency is also in question as bitcoin failed to find support from traders on late Sunday and early Monday.

The story is the same with other major cryptocurrencies as they mirrored the graph of bitcoin in last 24 hours.

Second largest cryptocurrency Ethereum was down 7.35%, Ripple sank 8.5% and Bitcoin Cash dropped by 10.4%…

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