The price of Bitcoin fell to its lowest in more than four months today, losing value as it suffered from technical selling.
The world's largest digital currency by market value declined to as little as $6,081.09 on the CoinDesk Bitcoin Price Index (BPI).
At this level, Bitcoin was at its least since February 6, and it was down more than 9% in the last 24 hours, additional BPI figures show.
The digital currency suffered this sharp decline after spending much of the last week trading with relatively tight ranges between $6,300 and $6,800.
On Wednesday, Bitcoin suffered a modest decline after markets responded to news that South Korean exchange Bithumb had been hacked, falling 2.6% during the day.
However, the cryptocurrency bounced back, recovering all the losses it had suffered earlier.
After mounting this recovery, Bitcoin traded within a reasonably tight range, before suffering a sharp drop today.
Read more:
https://www.forbes.com/sites/cbovaird/2018/06/22/bitcoin-declines-to-4-month-low-amid-technical-pressure/#52b945666350
