Newsflash: Bitcoin Price Falls Below $4,000
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Bitcoin price fell below $4,000 on Tuesday during a marked sell-off in Korean markets, losing over 10% in value after reaching a new all-time record high above $4,400 on the trading day.
Bitcoin prices’ rampaging run saw its upward momentum dented for the first time since breaking the $4,000 milestone over the weekend, falling to a low of $3,925 on Bitstamp on Tuesday.
Data from the Bitstamp Price Index (BPI) shows bitcoin price reaching a new all-time high of $4,400 during the early hours of Tuesday around 02:00 AM (GMT). The subsequent trading period over the day saw bitcoin’s value slip back toward $4,200 around 07:00. A sharp drop at 11:00 resulted in bitcoin price dipping to $3,925.7, a low since the turn of the week.
![](https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/08/BPI-0815.jpg)
A closer look at trading activity among bitcoin markets reveals a notable sell-off at Korean bitcoin exchange Bithumb, the leading exchange in South Korea, now the third-largest bitcoin trading market after US-based exchanges and Japan. Today’s trading data from CoinMarketCap also shows investors swapping their bitcoins back to fiat in other major global markets, presumably to cash-in on the cryptocurrency which is – once again – making its mark in the mainstream after its surging run this year.I
![](https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/08/BTC-Sell-off.jpg)
At the time of publishing, global average prices of bitcoin are starting to show signs of recovery in trading at just above $4,072. The corrective phase continues.
![](https://cdn4.cryptocoinsnews.com/wp-content/uploads/2017/08/BNC-0815.jpg)
Altogether, bitcoin’s value has more than doubled in the space of 30 days and continues to trade at over $4,000, a 3000% gain since ringing in the $1,000 milestone on the very first day of 2017.
Charts from CoinmarketCap, BitcoinWisdom and BraveNewCoin.
Featured image from Shutterstock.
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