Newsflash: Bitcoin Price Slinks Below $3,175 for First Time in 2018

Journalist:
Josiah Wilmoth @Y3llowb1ackbird
December 14, 2018

In what is becoming a disturbingly common occurrence, the bitcoin price on Friday set yet another fresh yearly low, slinking below the $3,200 mark for the first time in 2018.

The flagship cryptocurrency’s move below $3,200 came shortly after 16:10 UTC, following an unsuccessful breakout attempt earlier in the week. As of the time of writing the bitcoin price was trading at $3,187 on Bitstamp after briefly dipping as far as $3,171. The total cryptocurrency market, meanwhile, had seen its valuation slip to $102 billion — or roughly 37 percent of the size of bitcoin’s singular market cap on this date last year.

BTC/USD | Bitstamp

There were, of course, laughable attempts at explaining today’s sluggish performance, including at least one that connected it to the report that bomb hoaxers had attempted to extort crypto payments from unwitting victims located across the globe.

However, as is often the case, there does not appear to have been a clear trigger for the move, outside of the continued downward pressure that has plagued the market throughout the year and will continue to do so until BTC can establish a firm bottom.

Click here for a real-time bitcoin price chart or here to review our latest crypto market coverage.

Featured Image from Shutterstock. Charts from TradingView.

Tags: Bitcoin
Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.