WASHINGTON (dpa-AFX) - After dipping to $6538 on Wednesday, Bitcoin price is consolidating in a range above the $7,000 support in the latter half of this week.
It was another graph of wide fluctuation for the most popular cryptocurrency in the last 7 days.
Opening at $7200, Bitcoin continued its downward slide until Wednesday, losing its value by around $700, or 10 percent. It touched a seven-month low of $6538, the lowest since May 10.
Unpredictability characteristic of Bitcoin, the market then saw the price shooting up intra-day as high as $7424, within 10 hours.
It marked Bitcoin's biggest single-day gain since October 25. However, the bullish rage was short-lived.
As of this writing, Bitcoin is trading at $7112 according to CoinDesk's Bitcoin Price Index, which means, in a seven-day scale, the value remains rather stable.
Over the course of the last few months, the overall picture has not been bright for Bitcoin. In July, the virtual currency had touched $12575, before dwindling.
However, despite losing its weight heavily in the latter half of 2019, the cryptocurrency is still up by about 80 percent compared to its value during Christmas last year.
Copyright RTT News/dpa-AFX
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