Home 5 News 5 Bitcoin price – latest updates: Cryptocurrency value recovers after early February slump

Bitcoin price – latest updates: Cryptocurrency value recovers after early February 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 in mid-December, bitcoin’s value tumbled to $12,000 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.

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

Bitcoin has – slowly but surely – climbed even further. It is now worth $9,350 (£6,699), with its price having increased by almost 10 per cent over the past 24 hours.

Bitcoin has just breached the $9,000 mark. It is currently worth $9,200 (£6,641), according to Coinbase.
It’s the highest bitcoin’s price has been since 4 February.

18 of the biggest digital currencies by market capitalisation have increased in value over the past 24 hours, according to CoinMarketCap
Of those, Litecoin has seen the biggest gains, with its value rising by almost 25 per cent.

Bitcoin’s price has crept closer to the $9,000 mark again, but it hasn’t increased a great deal. It is currently worth $8,800 (£6,344), up 4 per cent over the past 24 hours and 8 per cent over the past week.

Bitcoin currently stands at $8,580 (£6,182), according to the Coinbase exchange.
Its value has dipped by just over 1 per cent over the past 24 hours, and by 36 per cent over the course of the past week.

The cryptocurrency’s price has remained steady so far today. It is currently worth $8,646 (£6,226), according to Coinbase.
At the start of February, it was worth $10,000. At the start of January, it had been worth more than $13,000.

Bitcoin was a little livelier overnight, almost hitting the $9,000 mark at one point.
It’s back down to $8,498 (£6,130) now though – having declined by more than 37 per cent over the past month.

Once again, things have remained steady throughout the day. Bitcoin’s price currently stands at $8,700 (£6,295), according to Coinbase.
It’s an odd situation, as we’ve all grown used to bitcoin’s frequent surges and crashes. Here’s the latest from Coinbase, showing how bitcoin’s value has changed over the course of the past month:

Several employees have been detained at the Federal Nuclear Centre in Sarov, western Russia, after making “an attempt to use the work computing facilities for personal ends, including for so-called mining”, a spokesperson for the centre told Interfax News Agency.
“Their activities were stopped in time,” they added.  

All but one of the biggest 20 digital currencies by market capitalisation have increased in value over the past 24 hours, according to CoinMarketCap.
There hasn’t been a great deal of change, but it’s good news for investors nonetheless. 

Bitcoin is currently worth $8,772 (£6,334), according to Coinbase. Its value has remained relatively steady for the last five days.

Bitcoin is currently worth $8,654 (£6,278), according to the Coinbase exchange. 
Its value has increased by more than 3 per cent over the past hour, more than 6 per cent over the past day and more than 5 per cent over the past week.
However, It has declined by more than 40 per cent over the past month. 

“As you get older your brain loses its plasticity at some point and you get wedded to the frameworks that you have”, said Tyler Winklevoss.
“You enter this world and you’re taught money is this thing that’s green, or it’s this precious metal, and you start confusing what’s familiar or what you use as what’s real or the way things have to be”.

Bitcoin’s price has crept up to $8,379 (£6,064), which is roughly what it was worth a week ago. A month ago, however, it had been worth more than $14,200.

Bitcoin’s price dropped below the $8,000 mark a couple of times overnight, but it’s back up to $8,138 (£5,846) now, according to Coinbase. In all honesty, things haven’t changed a great deal for the past couple of days.
That’s probably a good thing, considering last week’s massive slump, but investors may have expected another price surge by now.

Bitcoin’s price hasn’t changed a great deal this afternoon. It currently stands at $8,185 (£5,878), having declined by 0.06 per cent over the past 24 hours.

Spotted in London – the NiceHash Miner on a digital ad display:

Bitcoin’s price fluctuated constantly overnight, dropping below the $7,600 mark at one point, and it’s currently worth $8,330 (£6,011), according to Coinbase

Steve Strongin says that, because of a “lack of intrinsic value”, those that don’t survive “will most likely trade to zero”. What will replace them? Something better, which is easier to store and use, Strongin says.
“Are any of today’s cryptocurrencies going to be an Amazon or a Google, or will they end up like many of the now-defunct search engines?” he wrote. “Just because we are in a speculative bubble does not mean current prices can’t increase for a handful of survivors. At the same time, it probably does mean that most, if not all, will never see their recent peaks again.”

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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.

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