RATE Group | Bitcoin price: values show signing of recovery following slump
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Bitcoin price: values show signing of recovery following slump

30 Nov Bitcoin price: values show signing of recovery following slump

Posted at 03:01h in Bitcoin News by

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Bitcoin values are slowly gaining pace after last week falling to their lowest levels since May.

The price of the virtual currency had risen steadily during the first six months of this year, after a tumultuous 2018 that saw prices plummeting from the record high of $20,000 (£15,500) recorded at the end of 2017.

But after nearing a value of $13,000 (£10,080) this June, values gradually slipped towards the $10,000 (£7,750) mark in September and then fell to a six-month low of $6,630 (£5,140) on Sunday, figures from ranking site CoinMarketCap reveal.  

However, prices are creeping up again, with bitcoin trading at $7,530 (£5,840) as of 9:00am UK time today.

Bitcoin’s rivals are also fairing better. Over the past five days, Ethereum has risen from from a low of $134 to $154 today, while banking-focused coin Ripple has climbed to $0.23 (£0.18) from Sunday’s price of $0.21 (£0.16). 

So is now the time to buy?

China’s crackdown on illegal cryptocurrency trading was blamed…

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