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Bitcoin shrinks, reaching less than 6,700

The price of bitcoin suddenly fell by more than 20 percent on Friday, without probable cause after the recent jump in the cryptocurrency cost to the highest level since 10 months.

bitcoins dips 1705Photo: Pixabay

Bitcoin fell to the level of $6,178 on the Bitstamp exchange and $6,668.78 on the Coindesk exchange. According to the second one – the most famous cryptocurrency fell by 6.84 percent to $7,219.31 at 14.04 GMT.

After a few months of hibernation, bitcoin began to grow from the beginning of April, reaching its 10-month high at the beginning of this week, achieving a level of just over $8,000. Although there is no clear explanation for the impetus for growth, but there are some suggestions by some analysts that the demand for cryptocurrency has increased due to the tense relations between Washington and Beijing, because bitcoins and other digital currency at this stage are not related to government-supported assets.

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Other representatives of the cryptocurrency environment also marked a decline:

  • Ethereum lost 6.09 percent to $239,66;

  • Ripple dipped 5.11 percent to $0,3807;

  • Bitcoin Cash collapsed by 7.05 percent to $359,90;

  • Litecoin fell by 4.91 percent to $88,43.