Bitcoin Price Falls Below $7,000 for the First Time in Nearly 2 Months

Story by: CHRIS MORRIS

A potential trade war between the U.S. and China is affecting more than just Wall Street today. Cryptocurrencies are suffering amid the uncertainty, sending Bitcoin prices below $7,000 for the first time in nearly two months.

Bitcoin prices hit $6,919 in mid-morning trading Wednesday, the first time they’ve slipped below the $7,000 barrier since Feb. 6. They have yet to hit recent lows, though. Since the digital coin’s stunning escalation in value last year, the lowest prices have fallen is $6,127.21, according to CoinMarketCap.

Aside from that brief dip in February, the last time Bitcoin was regularly in the sub-$7,000 range was last November, despite warnings that the crypto bubble was about to burst.

Cryptocurrencies on the whole are suffering in Wednesday trading. Bitcoin, Ethereum, and Ripple are all down roughly 7%, as of 11:00 a.m. ET. And Bitcoin Cash is down nearly 8%. Less well known cryptocurrencies are seeing big drops as well, with only one of the top 45 cryptos (as judged by market cap) showing gains. Ardor is actually up 13% today to 29 cents.

Original story: http://fortune.com/2018/04/04/bitcoin-price-falls-below-7000-for-the-first-time-in-2-months/

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