Bitcoin price – latest updates: Cryptocurrency struggles after recent slump


The value of bitcoin skyrocketed in 2017, and its rapid rise generated huge amounts of interest in it and other types of cryptocurrency.

However, bitcoin is notoriously volatile, and a multitude of financial experts have advised people not to get involved, calling it a bubble that could burst at any moment.

There are now fears that it already has.

Recent events have demonstrated just how quickly the situation can change for investors. 

After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoin’s value tumbled to $12,000 (£8,630) within days.

It then surged again, before plummeting in mid-January amid reports that trading was about to be banned in several countries around the world. It then stabilised, before plunging at the start of February and then levelling out.

Its price is expected to continue to fluctuate unpredictably, and this live blog will be regularly updated with the latest news and significant changes.

:: The Independent’s bitcoin group is the best place to follow the latest discussions and developments in cryptocurrency. Join for the latest on how people are making money – and how they’re losing it.

Live Updates

4 hours ago

Bitcoin is valued at $9,148 (£6,545) this morning, according to Coinbase. That’s a rally from a low of $8,906 (£6,374) mid-morning yesterday but still someway short of its accustomed norm.

20 hours ago
21 hours ago

Bitcoin has meanwhile declined further today and is now valued at $9,090 (£6,513), Coinbase says. That’s down 6.87 per cent on yesterday.

21 hours ago

John Oliver spent 25 minutes of his show Last Week Tonight satirising the crypto-craze yesterday evening, characterising the subject as: “Everything you don’t understand about money combined with everything you don’t understand about computers.”
The comedian struck a cautionary note throughout, warning that: “You’re not investing, you’re gambling.”

1 day ago

Good morning! Bitcoin is still struggling to clamber back over its $10,000 (£7,215) benchmark value. It starts the day valued at $9,378 (£6,749), according to Coinbase. That’s down 2.04 per cent on this time yesterday and 14.26 per cent week-on-week.

1 day ago

Bitcoin itself is still very much in recovery mode this afternoon, now valued at $9,721 (£6,994), according to Coinbase.

2 days ago

Bitcoin starts the week much as we left it on Friday. valued just below the $10,000 (£7,215)-mark at $9,608 (£6,933), according to Coinbase. While that’s an improvement on the low of $8,550 (£6,168) we saw over the weekend, it was worth $11,629 (£8,390) this time last Monday , which represents a 16.46 per cent drop in value week-on-week, again underlining the volatility of cryptocurrencies and the risk they represent as an investment proposition.

4 days ago

Bitcoin ends the week back up to $9,095 (£6,571), according to Coinbase. It’s still down 7.37 per cent on yesterday but that’s a significant improvement on this morning.

5 days ago

Elsewhere the Winklevoss Twins have given an interview to Bloomberg in which they suggest they may add other digicoins like bitcoin cash and litecoin to their Gemini exchange, which currently trades in bitcoin and ethereum. 
Last week the brothers claimed bitcoin was a sounder investment proposition than gold – a bold claim indeed.
Cameron and Tyler Winklevoss continue to be vocal advocates of cryptocurrency investment

5 days ago
5 days ago

After returning to growth yesterday and achieving a high of $10,086 (£7,309), bitcoin has since skidded down again and is currently valued at $8,769 (£6,355). That’s a drop of 10.35 per cent in 24 hours, according to Coinbase. Ooh er.

5 days ago

Bitcoin’s worth is much as it was this morning right now, its value leveling out after a scare yesterday. It’s currently trading at $9,770 (£7,045), according to Coinbase.
Another possible contributor to yesterday’s sudden drop, which hit 48 of CoinMarketCap’s top 50 cryptocurrencies, was the rumoured attempted raid on trading platform Binance. CEO Changpeng Zhao has moved to reassure customers that “all funds are safe” and say that the would-be hackers actually lost money themselves in the endeavour.

6 days ago

Here’s a little round-up of some of the odder developments from the cryptocurrency realm, from the first whisky coin to the trading site that believes bitcoin could have the same impact on African economies that vibranium had on Wakanda in Black Panther.

6 days ago
6 days ago

Bitcoin suffered a dramatic dip mid-afternoon yesterday, as you can see in in the Coinbase graph below. It’s now worth $9,760 (£7,023) after losing 7.19 per cent of its value compared to this time on Wednesday morning.
The slump is thought to be a reaction to a US Securities and Exchange Commission warning that all cryptocurrency trading platforms will ultimately need to be registered if they are to be permitted to continue operating
Bitcoin’s latest judder
6 days ago

Bitcoin’s value remains much as it was this morning right now, holding at $10,575 (£7,609), according to Coinbase. Its drop of 3.45 per cent compared to yesterday afternoon is not inconsiderable, however, and that high of $11,629 (£8,371) on Monday evening suddenly feels like a long time ago.

6 days ago

The surge in interest in bitcoin and its peak growth over recent months has been understandable but it has also led many to overlook the impressive performance of the coin’s top five rivals. We examine their progress here.

6 days ago
1 week ago

The biggest cryptocurrency of the moment continues the slight decline it entered into yesterday, starting out on Wednesday morning valued at $10,500 (£7,553), according to Coinbase. That’s a drop in worth of 6.8 per cent in 24 hours.

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The Independent’s bitcoin group on Facebook is the best place to follow the latest discussions and developments in cryptocurrency. Join here for the latest on how people are making money – and how they’re losing it.

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