Bitcoin falls below $4,000 to hit 7-day low
Investing.com - The price of the digital currency bitcoin fell below the $4,000 level on Tuesday to hit the lowest level since August 12.
On the U.S.-based Bitfinex exchange, Bitcoin touched a low of $3,600.00 and was at $3,925.1 by 08:33 a.m. ET (12:33 GMT) having opened at $3,998.9.
Since setting its most recent all-time high of $4,489.1 on Aug.17, prices have pulled back and at current prices bitcoin has a market cap of about $65 billion.
The pullback has prompted speculation that bitcoin's rally – which saw the digital asset quadruple in value this year – might be reaching its peak.
Meanwhile, the price of the new bitcoin alternative, Bitcoin Cash was higher. It touched a high of $735.89 and was last at $674.1 having opened at $606.04.
It rose as high as $935.50 on Saturday, the highest level in its three-week history and an increase of almost 400% from its low of $210 on its first day of trading.
The price of the newly minted bitcoin offshoot rallied after the bitcoin cash blockchain showed it could handle the higher transaction capacity for which it was built.
At current prices, bitcoin cash has a total market capitalization of around $11 billion, making it the third most valuable cryptocurrency.
Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was up 4.15% to $309.48, while Ripple added 14.79% to trade at 20 cents.
To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/
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