Bitcoin Drops Below $ 7000, the Lowest Level Since May

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The exchange rate of the bitcoin fell to below 7000 dollars on Tuesday. Besides, the lowest level since May was tapped. Digital currencies have been under pressure for some time, partly due to the harsh tone of the Chinese central bank.

 

He warned in November of the risks associated with trading and issuing the currency. Furthermore, the regulator promised to take strong action against illegal activities concerning the bitcoin and other digital coins.

Analysts also point out the attractive returns from traditional investments, making cryptos less popular.

Nevertheless, the bitcoin has moved between $ 7,200 and $ 7,400 in recent weeks. But a chain analysis study indicating that the currency will remain under pressure may have caused the new dip.

On Tuesday around 4:30 PM the bitcoin was around $ 6,630, according to data from Coinmarketcap, which monitors various stock exchanges on which the cryptomint is traded.

Set against the rate at the beginning of this year, the bitcoin is still in the plus. On January 1, he was worth less than $ 3800. In July the value peaked at more than 13,000 dollars.

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