Home Market Bitcoin has slumped below $7,000 as cryptocurrency rout drags on

Bitcoin has slumped below $7,000 as cryptocurrency rout drags on


Bitcoin plunged below $7,000 today to trade at its lowest price since the beginning of February.

The digital currency dropped to as low as $6,617.69 in the early hours of this morning, according to Coindesk's aggregate index.

At the time of writing, bitcoin traded at $6,882.77, down 2.87 on the day.

Cryptocurrencies have been plagued by negative sentiment this year after soaring to record highs in December 2017, with bitcoin nearly reaching $20,000 at one point.

The digital asset is still above its 2018 low of about $5,900, however, though the price of ethereum's ether token, one of the other top cryptocurrencies, dropped below $400 yesterday to its lowest point since November.

Despite Twitter becoming latest tech giant to jump on the bandwagon to ban the advertising of initial coin offerings (ICOs) and cryptocurrency wallet services, many analysts are still bullish on bitcoin due to the continuing development of regulations and easier routes in for consumers.

Read more: World's largest crypto exchange warned over Japan operations


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