Bitcoin price – latest updates: Leading cryptocurrency struggles to return to form

0
78

The value of bitcoin skyrocketed in late 2017 and its rapid rise generated huge amounts of interest in it and the 1,567 other varieties of cryptocurrency available online.

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 – with cryptocoin exchanges reacting adversely to exterior threats like regulation, cyber-crime and advertising bans. 

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 enduring a rocky start to March.

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

49 mins ago

Bitcoin has slipped further on Good Friday and is now worth just $6,969 (£4,961), a real recent low, according to Coinbase data.
 
It’s down 7.36 per cent on this time yesterday, 19.95 per cent on last week and a huge 33.61 per cent on the last days of February.

7 hours ago

In other cryptocurrency developments this week, Ripple has donated $29m (£20.6m) in classroom supplies to public schools across the US via DonorsChoose.org. A great example of online fundraising being used for philanthropic ends IRL.
 
And… B-movie action star Steven Seagal has abruptly parted company with Bitcoiin despite the new coin (not affiliated with the market leader) raising more than $75m (£53.4m) in investment.
 

 

8 hours ago

It has emerged overnight that 18 machines worth at least £12,000 each being used for bitcoin mining have been stolen from a property in Chesterfield.
 
Here’s The Independent’s Shehab Khan with the full story on the dramatic raid.
 

 

8 hours ago

Here’s how the top five cryptocurrencies are priced as of Friday morning, according to CoinMarketCap.
 
  1. Bitcoin: $7,089 (£5,051)
  2. Ethereum: $393 (£280)
  3. Ripple: $0.51 (£0.37)
  4. Bitcoin cash: $756 (£539)
  5. Litecoin: $123 (£87)
 
All of the top four are down by at least six per cent, with litecoin posting a more moderate decline in value of 1.72 per cent.

1 day ago

The top five cryptocurrencies stack up like this on Thursday morning, according to CoinMarketCap.
 
  1. Bitcoin: $7,684 (£5,458)
  2. Ethereum: $428 (£304)
  3. Ripple: $0.56 (£0.40)
  4. Bitcoin cash: $818 (£581)
  5. Litecoin: $126 (£90)
 
All are down again in the last 24 hours by at least 2 per cent, with bitcoin cash leading the slump with a 7.5 per cent fall in value.

2 days ago

Bitcoin’s value has rallied somewhat this afternoon, according to Coinbase.
 
It’s now worth $8,020 (£5,689), up 0.59 per cent on this time yesterday but still down 9.69 per cent on this time last week and 20.33 per cent on a month ago.

2 days ago

Here’s how the top five cryptocurrencies are priced as of Wednesday morning, according to CoinMarketCap.

1)    Bitcoin: $7,887 (£5,568)
2)    Ethereum: $450 (£318)
3)    Ripple: $0.58 (£0.41)
4)    Bitcoin cash: $883 (£623)
5)    Litecoin: $134 (£95)
 
Four of them are down moderately this morning but ripple is showing a modest rise of 0.66 per cent.

3 days ago

Bitcoin has struggled back up to $7,972 (£5,636) this afternoon, according to Coinbase, but it’s still down 2.04 per cent on this time yesterday, 10.33 per cent on last week and 15.93 on last month.
 
The rough patch continues.

3 days ago

Here’s how the top five cryptocurrencies are priced as of Tuesday morning, according to CoinMarketCap.

1)    Bitcoin: $7,950 (£5,585)
2)    Ethereum: $464 (£326)
3)    Ripple: $0.58 (£0.41)
4)    Bitcoin cash: $898 (£631)
5)    Litecoin: $141 (£99)
 
All five are down by at least 6 per cent over the last 24 hours, with ethereum and litecoin falling by a huge 11.33 per cent and 12.21 per cent respectively.

4 days ago

Bitcoin is struggling again today, falling from $8,951 (£6,305) on Saturday afternoon to $8,085 (£5,695) right now, according to Coinbase.
 
A succession of recent knocks and setbacks have left the market leader struggling to return to its accustomed value of $10,000 (£7,043). It’s currently down 17.43 per cent on this time last month.

4 days ago

Here’s how the top five cryptocurrencies are priced at the start of the week, according to CoinMarketCap.

1)    Bitcoin: $8,489 (£5,995)
2)    Ethereum: $522 (£369)
3)    Ripple: $0.64 (£0.45)
4)    Bitcoin cash: $974 (£688)
5)    Litecoin: $161 (£113)
 
All five have fluttered slightly over the last 24 hours, with ethereum and litecoin rising in value by less than 1 per cent and the other three all down by 1 per cent or less.

6 days ago

The Independent’s cryptocurrency investment project is now live!
 
We did run into a couple of minor issues with carrying out our Plan A, however, as eToro doesn’t currently trade in monero and there’s a $200 minimum spend on the platform.
 
Our revised portfolio now looks like this:
 
Bitcoin $200
Ethereum $650
Bitcoin cash $200
Litecoin $350
 

 
As you can see, we’re currently operating in the red as coins are first purchased for slightly less than their market value.
 
We’ll be tracking our portfolio’s progress over the coming weeks – stay tuned!

6 days ago

Bitcoin ends an erratic week priced at $8,565 (£6,048), down very marginally on this time yesterday, according to Coinbase.
 
That means the leading cryptocoin is actually up 3.72 per cent on last Friday, having fallen as low as $7,378 (£5,211) and risen as high as $9,110 (£6,434) over the course of the last seven days.

6 days ago

A teenage British hacker has discovered a major flaw in Ledger’s Nano S and Nano Blue cryptocurrency wallets.
 
The company has dismissed the hardware hack as “serious but not critical” and made a security fix available but customers will be understandably unnerved given that this emerging sector relies on the security of its tech.
 

 

1 week ago

Here’s how the top five cryptocurrencies are priced on Friday morning, according to CoinMarketCap.
 
1) Bitcoin: $8,418 (£5,964)
2) Ethereum: $517 (£367)
3) Ripple: $0.63 (£0.45)
4) Bitcoin cash: $967 (£685)
5) Litecoin: $158 (£112)
 
All five have dipped in value over by at least 6 per cent in the last 24 hours, with ripple taking the biggest hit, falling 8.19 per cent.

1 week ago

After a healthy start to the day, bitcoin has skidded downhill and is now worth $8,526 (£6,043), according to Coinbase.
 
That’s down 5.9 per cent on this time yesterday –  investors perhaps reacting with suspicion to the Chancellor’s announcement below.

1 week ago

Britain’s Chancellor of the Exchequer Philip Hammond has announced that the Treasury is forming a task force to investigate the impact of cryptocurrencies. 
 
The Cryptoassets Task Force will operate in tandem with the Bank of England and the Financial Conduct Authority to ensure the UK gets the best out of this emerging sector.
 
Here’s the full story from our business reporter Ben Chapman.
 

 

1 week ago

Here’s how the top five cryptocurrencies are priced this morning, according to CoinMarketCap.
 
1) Bitcoin: $8,917 (£6,299)
2) Ethereum: $559 (£395)
3) Ripple: $0.68 (£0.48)
4) Bitcoin cash: $1,036 (£732)
5) Litecoin: $168 (£119)
 
All five have experienced a slight dip in value over the last 24 hours, with ripple down the most by 3.95 per cent.

1 week ago

Bitcoin is up to $9,044 (£6,431) this afternoon, according to Coinbase. Well on the road to recovery.
 
As for the other coins in The Independent’s portfolio, chosen by our audience at Ad Week yesterday, they are currently valued as follows, according to CoinMarketCap.
 
Bitcoin cash: $1050 (£747)
Ethereum: $577 (£411)
Litecoin: $173 (£123)
Monero: $232 (£165)

1 week ago

Worrying news for the cryptocurrency sector today as a group of German academics have reported discovering images of child sexual abuse embedded within bitcoin’s blockchain.
 
This means that traders could potentially be accused of breaking the law, however unknowingly, in 112 countries just by virtue of having used the blockchain to carry out transactions or mine bitcoin. 
Load more

Please allow a moment for the live blog to load.

We’ve teamed up with cryptocurrency trading platform eToro. Click here to get the latest Bitcoin rates and start trading. Remember that returns are not guaranteed, so you could get back less than you invested.

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.