Bitcoin Price Hits One-Week Low In Drop Below $8K

The price of bitcoin fell below $8,000 for the fourth time in seven days as the cryptocurrency's value sank to its lowest level since July 23rd.

AccessTimeIconJul 31, 2018 at 2:14 p.m. UTC
Updated Aug 18, 2021 at 9:32 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The price of bitcoin fell below $8,000 for the fourth time in seven days Tuesday as the cryptocurrency's value sank to its lowest level since July 23.

As of press time, the world's largest cryptocurrency by market capitalization is averaging $7,764.44, according to CoinDesk's Bitcoin Price Index (BPI). That figure represents a roughly 4.9 percent decline since the day's open of $8,168.00 and a step above Tuesday's reported low of $7,677.94.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Bitcoin was in some familiar territory just yesterday when the price slipped below $7,900, followed by a quick recovery above $8200.

    coindesk-bpi-chart-60-2

    While the recent turbulence can be seen as slight cause for concern for the bulls, bitcoin is less than 12 hours away from closing a productive month during which – as it currently stands – its price increased more than 22 percent and surpassed the prior month's volume for the first time since February, according to the Bitfinex Exchange.

    Other cryptocurrency markets are faring similarly, market data shows.

    At press time, five of the 10 largest cryptocurrencies by market capitalization are recording 24-hour percentage losses of more than 5 percent. The biggest loser of which is EOS, which is currently printing a 10.36% loss, according to CoinMarketCap.

    Image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about