RATE Group | Price of Bitcoin has crashed by £825 in just 24 hours
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Price of Bitcoin has crashed by £825 in just 24 hours

06 Sep Price of Bitcoin has crashed by £825 in just 24 hours

Posted at 08:58h in Bitcoin News by

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THE value of Bitcoin has dropped by around £825 ($1,065) in just 24-hours as the cryptocurrency continues to crash.

The coins have been steadily gaining value over the past few weeks but on Wednesday morning it dropped by around £232 ($300) just in an hour.

At around 9am this morning one Bitcoin was worth less than £5,000

Coindesk.com

At around 9am this morning one Bitcoin was worth less than £5,000

It means that today, one Bitcoin is worth around £4,886 ($6,313) down from £5,711 ($7,378) yesterday morning.

At its peak, Bitcoin had rocketed to a record high of £12,393 ($16,000) in December last year.

It’s not clear exactly what has caused the crash but the sharp fall in value began shortly after a top investors Goldman Sachs announce that it is ditching plans to open a desk for trading cryptocurrencies, according to Business Insider.

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