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Newsflash: Bitcoin Price Hits a 10-Day Low

Last Updated March 4, 2021 4:57 PM
Samburaj Das
Last Updated March 4, 2021 4:57 PM

A gloomy Monday ushers Bitcoin in with a downward start to the week as prices fell 4.8% to hit a low of global average low of $2,459.72.

In a downturn that began late Sunday evening, bitcoin prices fell below $2,500 for the first time in over a week. On Bitstamp, bitcoin price hit a low of $2,432, reminding investors of the ongoing volatility with cryptocurrencies less than a fortnight of hitting an all-time high of $3,000.

At press time, figures from CoinmarketCap shows  bitcoin price trading at just under $2,550, losing 4.69% on the day. Data shows a significant withdrawal from investors in US markets, followed by Asian and European trading markets.

The United States leads the global trading markets with over a third of the trading volume over a 24-hour period, followed by China, Japan and Korea. The three Asian markets are all seeing trading premiums, with the Korean market currently fielding a significant 15% premium in its spread over US-based markets. Bitcoin is currently valued above $2,900 in a country whose authorities are unable to agree on a uniform path toward regulating its local bitcoin industry despite a pro-FinTech and digital currency-friendly agenda set by the Korean government.

Meanwhile, bitcoin isn’t the only currency to see a fall among the wider crypto-market at the start of the final week of June. Ethereum has seen bigger losses leading into Monday, trading under $300 per Ether as gloomy Monday awaits an upbeat turn to hit the green.

For a real-time bitcoin price chart, click here.

Featured image from Shutterstock.