RATE Group | Bitcoin Price Briefly Dips to 12-Month Low in Overnight Trading
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Bitcoin Price Briefly Dips to 12-Month Low in Overnight Trading

14 Mar Bitcoin Price Briefly Dips to 12-Month Low in Overnight Trading

Posted at 03:59h in Cryptocurrency News by

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Bitcoin (BTC) has made a quick bounce from a dip to below $4,000 seen early on Friday. 

The cryptocurrency is currently trading near $5,415, up around 40 percent from the low of $3,867 reached around 02:15 UTC. That was the lowest level since March 25, 2019, according to CoinDesk’s Bitcoin Price Index. 

Equity markets are also flashing green alongside the slight recovery for bitcoin. 

S&P 500 futures are currently reporting more than 3 percent gains, while the Euro Stoxx 50 index – the eurozone’s benchmark index – has added more than 2 percent to its value. 

Asian markets had gapped lower at the open, tracking the overnight losses on Wall Street, but recovered a major portion of the losses before the closing bell.

Year-to-date losses

While bitcoin’s recovery looks impressive, the cryptocurrency is still down by more than $2,000 from levels near $8,000 seen early on Thursday. 

Bitcoin is now reporting a 27 percent loss on a year-to-date basis after showing gains of 46…

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