Home / Banking and Finance / Bitcoin Begins May with Retreat Back Below $9,000 After 30% Pop in April

Bitcoin Begins May with Retreat Back Below $9,000 After 30% Pop in April

via CNBC: Bitcoin fell below $9,000 Tuesday, the first trading day of May.

The cryptocurrency traded 3.9 percent lower around $8,880 as of 8:49 a.m. ET, according to CoinDesk’s bitcoin price index. The decline followed a gain of about 33.5 percent for April.

There was no immediately apparent reason for bitcoin’s drop, which began overnight. Bitcoin has struggled to claw back to $10,000 in the last several weeks and remains roughly 36 percent lower for the year.

Bitcoin over the last 12 hours

pic

Japanese yen accounted for about 41 percent of bitcoin trading volume, according to CryptoCompare. U.S. dollar-bitcoin trading made up about 25 percent, and tether — which is pegged to the greenback — accounted for about 20 percent of trading volume.

About Editorial Team

Check Also

grab_financial

Grab Financial Could Disrupt Banking Sector

via THE EDGE MARKETS: BANKS might soon be the next taxis. Grab’s new fintech platform Grab …