Bitcoin has fallen to below $ 5,000 , its lowest value in over 12 months , with losses now totalling more than 10 % for the recession , according to CoinDesk . The recession follows a relatively stable period for the cryptocurrency market , which had seen bitcoin trading in the $ 500 range during October . However , a 9 % drop occurred last week , coinciding with a " hard fall " in bitcoin cash , dropping the cryptocurrency ’s value to even lower than its price before its major spike at the end of 2017 .
Bitcoin has fallen to below $5,000, its lowest value in over 12 months, with losses now totalling more than 65% for the year, according to CoinDesk. The slump follows a relatively stable period for the cryptocurrency market, which had seen bitcoin trading in the $6,400 range during October. However, a 9% drop occurred last week, coinciding with a "hard fork" in bitcoin cash, dropping the cryptocurrency’s value to even lower than its price before its major spike at the end of 2017.