Bitcoin Price Falls to 6-Day Low

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term's (BTC/USD) traded price fell by as much as 3% today, breaking what has been some relatively calm trading during the past 24h. It is currently trading at $243.70 after falling as low as $241.80 on BTC-e.

The bulk of the losses came about on a surge in volume to well above 1,000 BTC/hour, suggesting that oversized sell orders were responsible and that the drop was mostly artificial for the time being. Volumes have since trailed off to 300 BTC/hour, and were as low as 100 BTC/hour prior to the surge.

The drop sends bitcoin even further behind its 50-day moving average (MA), now $256, after adhering closely to the mark during the previous two weeks. It is now over 5% below the MA, challenging the offset reached just over one week ago.

The price gap between BTC-e and its peers has narrowed significantly, now only (0.7%).