Bitcoin price live: Latest updates as cryptocurrency holds firm at $7,000

[sawyer1453]

Bitcoin fell to its lowest price of 2018 in June, having experienced its worst start to a year since the cryptocurrency was founded, however it is showing signs of recovery.

The value of bitcoin rose more than twenty-fold in 2017, generating huge amounts of interest in cryptocurrencies like ethereum and bitcoin cash.

After peaking at close to $20,000 in December, bitcoin's value fell to below $10,000 within a matter of weeks. This precipitated a market-wide crash other leading cryptocurrencies tumble.

Its price is expected to continue to fluctuate unpredictably, and this live blog will be regularly updated with the latest news and significant changes.

:: The Independent’s bitcoin group is the best place to follow the latest discussions and developments in cryptocurrency. Join for the latest on how people are making money – and how they’re losing it.

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After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoin’s value tumbled to $12,000 (£8,630) within days.

It then surged again, before plummeting in mid-January amid reports that trading was about to be banned in several countries around the world. It then stabilised, before beginning a gradual price slide throughout February, March and early April.

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[BTCLovingDude]

Please allow a moment for the live blog to load.

either include the source of the text you are copying here or at least edit it so that you hide the fact that it is a copy paste!

[easycoin995]

If bitcoin can hold on to its current price level we can expect a bull run before the ETF hearing. Also; many experts have predicted that we’ll see a bull run by the end of 2018. The mining hashrate is increasing which means that the demand for bitcoin is increasing too. A bull run is imminent.

[Billgates710]

Well; it just can ended up being a myth not fact. In this changeable market Bitcoin is still holding it's first position and yes that's true it is bearish for a long time but f anybody thinks about the long-term then bitcoin is still preferenced.

[elisabetheva]

If bitcoin can hold on to its current price level we can expect a bull run before the ETF hearing. Also; many experts have predicted that we’ll see a bull run by the end of 2018. The mining hashrate is increasing which means that the demand for bitcoin is increasing too. A bull run is imminent.

I hope that what is predicted can be realized well because there are many who expect the growth of bitcoin to return soon

[franky1]

alot of people foolishly and stupidly stand at the peak of $19,500 and look down.
yet not even 1% of the community got to see-use-benefit from the ATH because it was an unsustatinable fluke.

what people need to do is not sit in the clouds and look down but stand at ground level and look up.

after doing some maths th long way round and then trying to look for a way to simplify it.. imagine this.
take the network hashrate (in exa). and multiply it by 135 and you will start to see the ground level where people will refuse to sell below

EG
take the highest hashrate this month. 52exa = $7020
on that day the price was over 7020

the next day 39exa=$5265 on that day the price was in the high $6k
latest hashrate 42exa= $5670 which we are seing today we are still in the $6k range

so instead of standing in the clouds. stand at ground level. knowing no one is stupid to sell below the cost of obtaining bitcoin and so if a mining pools costs are 135* their hashrate thats their bottom line.

then you will start to see where prices are near that point. and you can class that as a low price and good oppertunity to buy. and if the price is way way way above that bottom line. then it is a sign of speculative hype/emotion/ empty reason. thats not sustainable and many people will want to sell so expect those high prices not to sustain for long (EG dcembers temporary fluke bubble price of $19.5k which burst and settled back down nearer to real value)

..
the 135 multiple came from looking at the latest ASIC equipment cost and electric per btc and other factors.
back in 2017 asics were not $850 but nearer $2k which is where the matrix was over 200. bet right now this quarter while asics and costs are where they are 135 is a good ground level multiple without having to go the long way round working out costs of producing a btc

[pimkobai]

Based on the current price value of btc, it had dropped to $6.5k and started again to recover slowly after the adjustment period.  People should not be alarmed and worry since everyone knows bitcoin will recover from it's dip no matter how long it will take. The best way to handle in situation like this is to be patient and just wait for the right time for it will regain it's track back to green.

[btcmaster999]

Yes it is a big news for bitcoin holders. The price of the coin has increased and has crossed the $7k mark. Investors can have a breath and hope for more price increase in near future as bitcoin has the most potentiality to grow.

[CryptoShooter]

If Bitcoin can hold on to the position it is in right now; it is likely to rise with upcoming trend. With increased hashrate; ICE joining crypto market and ETF hearings being lined up Bitcoin is likely to experience a bull run or at least end the year on a good note for its investors.

[samsul1234]

I still hope that bitcoin and that I still like bitcoin will not reach any currency

[alinalovedoogie]

Thanks for sharing this article. Bitcoin value is already increased. As I know the current value is more than 7000 dollar. So I think I will get more than I invest.

[coinwizard_]

More support is needed at this $7000 mark. Just in case there is another dump but luckily there was plenty of demand at 6k to prevent it falling further. If it consolidates at 7k then it can start to push up to 9k

[SladderyNewS]

I think we are going to face a bull run soon because recently there has been news of bitcoin hash rate reaching an all time high; moreover there are news of Bakkt partnership and CBOE ETF hearings in the coming month. These will definitely affect the price of bitcoin positively triggering the bull run.

[LateMoveR52]

The market has been tough on BTC this year. The coin recovered from a prolonged dip; but again faced an 11% fall. Thankfully; it was the people's demand and faith in the coin that it is seeing the silver lining behind the storm clouds.

[Wandly]

Actually the market of crypto currency has been seeing ups and down from the start of the year. This year is really a challenging year for this market but we have seen the rise in the price of the bitcoin though it is again in low position. We will see the rising p[rice again.

[Hurs1965]

It would have been better if there was a source or even a link from where you got the news. Without the certainty that this is a real and legit news; it will be hard to comment on it and thus it may get deemed as a fake news.

[MaxApple147]

Is it just a prediction or the information is right and if right then please share that link because A large number of people eagerly waiting for this news.

[bungutko]

Since there are many people who had supported btc, I believe this current dip may anyhow lay low once more people had bought more btc at this bear market. The rise of btc may soon be felt after the adjustment period will be over and will stabilize soon at $7.0 K USD mark. Let's wait until September 21, 2018 where SEC will take the final decision about the ETF where most likely will impact the price value of BTC in the market.

[zolfa]

I think we have to wait for the SEC decision about the bitcoin ETF, the price of bitcoin will stabilize at the point of $ 7000 before we get results from the SEC.

bitcoin prices still have a chance to fall again, so don't be happy quickly.

[hermanjones18]

Bitcoin situation is always going up and down this year since it hit its highest price few years ago . This makes it risky to invest. The price of bitcoin is now $6501 and it is constantly going down. This have been like this this entire month. So I think this situation will keep on going like this for a few weeks more. So there is no need to get hyped about the ups and downs in the price of bitcoin.