The price of bitcoin has hit its lowest level for four months at $6,400, after experiencing a downward trend for several days. Bitcoin’s value fell to $6,050 on Friday from $7,900 the day before, according to CoinDesk, which tracks prices in U.S. dollars. By falling to $6,384.76, the digital currency had fallen roughly 3.3% below the bottom limit of the aforementioned range. was not in a bear market. Blockchain adviser Oliver Isaacs added that a corrective rally might take the currency back above $7,000, but said that clarity of regulation was needed if digital currencies were to be seen as having legitimate value and a reliable medium for financial deals.
The price of bitcoin has hit its lowest level for four months at $6,400, after experiencing a downward trend for several days. Bitcoin’s value fell to $6,050 on Friday from $7,900 the day before, according to CoinDesk, which tracks prices in U.S. dollars. was not in a bear market. Blockchain adviser Oliver Isaacs added that a corrective rally might take the currency back above $7,000, but said that clarity of regulation was needed if digital currencies were to be seen as having legitimate value and a reliable medium for financial deals.