Bitcoin bloodbath continues: Bitcoin price drops below $9,000

Bitcoin slide continues. For the first time in two months, the price of Bitcoin has fallen below $9K. As of writing CoinDesk’s Bitcoin Price Index (BPI) had hit a low of $8,932.89, a move that came hours after the market opened above $10,000. This is the worst worst monthly slide in almost four years. The price drop may be in part due to yesterday’s announcement from Facebook that is banning all ads on its social network promoting digital currencies, initial coin offerings and binary options. As previously reported, the price of bitcoin has seen significant volatility on Thursday as it fell below that figure.

The fall below $9,000 marks the lowest bitcoin has fallen since late November 2017, market data shows, when it first reached that milestone. As of press time, the price of bitcoin was trading at roughly $8,954.13, representing a decline of roughly 11%.