The price of bitcoin has hit its lowest level for four months at $ 6,400 , after experiencing a downward trend for several days . " But James Song , founder and CEO of blockchain start - up ExsulCoin , said investors were not suffering from widespread pessimism about the digital currency and bitcoin was not in a bear market . Financial adviser Oliver Isaacs added that a corrective rally might take the price back above $ 100 , but said that plenty 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 . But James Song , founder and CEO of blockchain start - up ExsulCoin , said investors were not suffering from widespread pessimism about the digital currency and bitcoin was not in a bear market . Financial adviser Oliver Isaacs added that a corrective rally might take the price back above $ 100 , but said that plenty of regulation was needed if digital currencies were to be seen as having legitimate value and a reliable medium for financial deals .