Live updates as Bitcoin price drops below $8000

Our up-to-date guide to Bitcoin’s price reveals everything you need to know about the value of Bitcoin in February 2018. What’s the latest Bitcoin price and is the value of the cryptocurrency rising or falling? Let’s take a look at how Bitcoin’s price looks today, and analyse the latest news and trends.

Bitcoin Price Today: Live Bitcoin price updates for Sunday, February 11

The future of Bitcoin is looking glum. Trading opened at $8556 on Sunday, before dropping to $7848 at 8:05 am GMT. The price was sitting at $7916 at 9:30 am GMT, leading some to believe that it could be valued at somewhere in the region of $8000 to $8300 by midday.

Stay tuned for the latest.

Bitcoin Price Latest: Saturday, February 10

Bitcoin has at last cleared $9000. The virtual currency opened at $8,608.62 on Saturday. It briefly rose to a high of $9061 at 7:02 am GMT, though it soon dipped to $8859 at 8:25 am GMT – with experts confident that it will be resting in the mid 9000s before the day’s out. But that wasn’t the case, with Bitcoin closing at $8556.


Bitcoin Price Latest: Friday, February 9

Bitcoin opened at $8179 on Friday, but dropped to $7866 at 1 am GMT. It had climbed up to $8298 at 9:30 am GMT and was sitting at $8324 at 12 pm GMT – indicating that it could very well cross $9000 by the end of the day. But progress had stalled at 4:00 pm GMT, with the value hitting $8370, before closing at $8675.

Bitcoin Price Latest: Thursday, February 8

Bitcoin is very much in recovery mode after a calamitous stretch.

The world’s largest cryptocurrency opened just shy of the $8000 mark on Thursday – which it subsequently cleared. As of 10:30 am GMT, Bitcoin was sitting at around $8500, making for a strong recent spell since reaching a nadir of under $6000 per coin on Tuesday. It closed at $8243.

Bitcoin Price Latest: Wednesday, February 7

Bitcoin opened at $7700 on Monday, before rising to $7887 at 10 am GMT – a good sign considering the price was sitting at less than $6000, its lowest price since November 2017, at the same time on Tuesday.

As you’ll see from our Thursday update (above), this trend continued and Bitcoin is now very much on the up again.

Bitcoin Price Latest: Tuesday, February 6

Bitcoin is showing slight signs of recovery this morning, having dramatically crashed over the last 24 hours. As of 8 am GMT it had sunk to below $6000 – its lowest price since November 2017 – but subsequently fought back and climbed over $7000 at 4.30 pm GMT.

In total, over $550 billion worth of value has been wiped off the entire cryptocurrency market in 2018 as fears grow over stricter regulations of trading in a number of countries including the US, UK, South Korea and India.

Bitcoin Price Latest: Monday, February 5

It’s not looking good for Bitcoin holders. Trading opened at $8202 on Monday, but abruptly plummeted to $7632 at 11 am GMT when Lloyds Bank made the bold decision to ban customers from purchasing Bitcoin using its credit cards.

“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” said a spokeswoman for the Lloyds Banking Group in a statement issued to The Guardian.

Bitcoin showed no sign of recovering as we entered the afternoon, with the price sitting at $7384 at 2:50 pm GMT – down almost $1000 since trading opened. Some experts warned at the time that it could drop below $7000 by the end of the day.

Bitcoin Price Latest: Sunday, February 4

Bitcoin opened at $9224 on Sunday, but has since suffered a rocky start to the day – diving to $9071 at 8:50 am. But that decline was a drop in the water compared to the nosedive to $8268 when it emerged that Lloyds Bank could ban customers from purchasing Bitcoin using its credit cards.

Bitcoin Price Latest: Saturday, February 3

Bitcoin could be showing the initial signs of recovering from this week’s considerable drop in value.

The virtual currency, which is the largest of its kind by market share, opened at $8827 on Saturday. It quickly climbed to $8897 at 9 am GMT, only to even out at $8844 at 10 am GMT – with some experts predicting that it will cross the $9000 mark by the end of the day.

And that was the case. At 1 pm GMT, Bitcoin hit $9010. It later rose to $9435, before dropping to $9053 at close of play.

Bitcoin Price Latest: Friday, February 2

It appears that chatter surrounding India clamping down on virtual currencies took more of a toll on Bitcoin’s value than expected, opening at $8186 on Friday, before climbing to $8360 at 12 pm GMT. It closed at a promising $8826.

Bitcoin Price Latest: Thursday, February 1

Bitcoin was thought to have hit a new low on Thursday, with its price sitting at well under $10,000 at start of play – at 10am GMT, it was barely over the $9565 mark, and by lunch, it had plummeted to under $9200.

That’s despite new promises from South Korean financial regulators that an outright cryptocurrency ban is out of the question, and they’re simply seeking to verify buyer and seller identities in a bid to thwart criminals.

However, India and the UK have both expressed a desire to investigate ways of better regulating the cryptocurrency, casting a cloud over the digital coin’s future. In all, Bitcoin is thought to have lost over $130bn worth of value in the month of January.

In fact, India could go further than many other nations, with its finance minister strongly suggesting an outright ban during a budget speech.

Bitcoin Price Latest: Updates from Wednesday, January 31

News surrounding US regulators subpoenaing one of the world’s largest virtual currency exchanges as questions mount over the authenticity of Tether resulted in Bitcoin opening at $10,035 on Wednesday, before quickly dropping to $9627.

It’s since showed some signs of recuperating, reaching $10,158 at 10:30 am GMT, but it still has a long way to go before it’s anywhere near the $13,500 it was sitting at on January 25 – and some experts aren’t convinced it’ll get there.

The price of Bitcoin has since continued to rise. It hit $10,294 at 13:00 pm GMT and is on track to cross the $10,300 mark by 13:30 pm GMT. We will, of course, let you as soon as that happens – so be sure to check back.

Bitcoin Price: Tuesday, January 30

Bitcoin suffered a depressing start to the day, opening at $10,195. It’s thought that the dip was a result of rumours claiming that cryptocurrency Tether – owned by trading exchange Bitfinex – was plucked from thin air to boost the value of Bitcoin.

If that turns out to be true, the value of Bitcoin could plummet by as much as 80 percent, experts have warned. But minimal chatter surrounding the allegation throughout the day resulted in the price creeping up to $10,278 at 3:45 pm GMT.

Could we be witnessing the calm before the storm? Only time will tell.

Bitcoin Price: Monday, January 29

Bitcoin opened at $11,226 on Monday – down almost $500 from the previous day – as news emerged that four armed robbers broke into the home of a City of London finance chief on January 23, forcing him to transfer an unknown quantity of Bitcoin.

The value of Bitcoin dropped to $11,068 at 12:30 pm GMT, only to later rise to $11,234 at 5:50 pm GMT.

Bitcoin Price: Friday, January 26

Theresa May’s revelation that the UK government was considering introducing new legislation to regulate the trade of cryptocurrencies resulted in the value of Bitcoin plummeting overnight.

The virtual currency, which is the largest of its kind by market cap, opened at a measly $10,587 on Friday – with some experts predicting that it will continue its downward spiral as the day goes on.

And it would seem the experts were wrong. The price of Bitcoin had risen to $10,864 as of 3:00 pm GMT.

Bitcoin Price: Thursday, January 25

Thursday was an interesting day for Bitcoin.

UK Prime Minister Theresa ‘Fields of Wheat’ May made a bold declaration in Davos, revealing that Britain would be looking “very seriously” at following in South Korea’s footsteps by cracking down on cryptocurrency trading.

Having enjoyed a high of nearly $14,000 to start the day, Bitcoin’s value plunged to just $11,040.70 as news of the revelation – which Trusted Reviews was one of the first to report – broke.

Things started to improve in the afternoon, however, with Bitcoin sitting at ~$11,231 as of 2:30 pm GMT.

Related: UK Bitcoin ban

Bitcoin Price: Wednesday, January 24

After a shaky start to the week, Bitcoin’s price appeared to be steadying again on Wednesday, with the world’s most popular cryptocurrency clearing the $11,000 mark, having dived closer to $10,000 on Tuesday.

Somewhat predictably, other major digital currencies were also on the up, with Ethereum (ETC) sitting at $1019.97 after slipping to around $920, and Ripple (XRP) recovered to $1.38 having slumped to $1.21 in the same timeframe.

As of 12:30 pm (GMT), the value of Bitcoin had dropped to $11,208 – though it’s possible it could regain the $65 it’s lost since trading opened on Wednesday morning – or the price could continue to fall.

Bitcoin Price: Tuesday, January 23

After opening at $11,840 on Monday – up $2439 from last Thursday’s $9501 – Bitcoin’s value took a dive, hitting $10,325 when trading opened on Tuesday – less than six hours after it emerged that South Korea is planning to introduce legislation that will make anonymous cryptocurrency transactions traceable.

Previous rumours had suggested the country could be preparing to ban cryptocurrency trading outright, though most experts dismissed such speculation. To put it into more relatable (*cough*Brexit*cough*) terms, consider this a ‘soft’ cryptocurrency ban.

Bitcoin isn’t the only virtual currency in troubled waters, however. Ethereum (ETC), Litecoin (LTC) and Ripple (XRP) all experienced a significant dip in value during the same timeframe, according to data obtained by CoinMarketCap. Overall, the cryptocurrency world has suffered a U-turn since its apparent sprint towards recovery last week and on Monday.

Prior to this news, South Korea was said to be mulling over a ban of the exchanges used to trade virtual currencies in the region. It would appear, however, that Ran Neuner, host of CNBC‘s Cryptotrader show, was right in ruling out a blanket ban, when he took to Twitter on January 11 to provide his overview of the then emerging situation.

Related: Best Bitcoin alternatives

Some would see this as the perfect opportunity to invest in cryptocurrencies, but don’t get caught up in the hullabaloo. They’re highly volatile and – as with any investment – you should be aware of the risk involved.

Bitcoin Price: Monday, January 22

It looked like Bitcoin owners could have a good week ahead of them not so long ago.

Trading opened at $11,840 on Monday, January 22 – up $2439 from last Thursday’s $9501, which was the lowest figure recorded so far this year – following US bank Morgan Stanley’s revelation on Friday January 19 that it had started clearing Bitcoin futures.

Ethereum (ETC), Litecoin (LTC) and Ripple (XRP) were also continuing to claw back value on Monday, having started to recover from a recent downturn late last week.



What do you think of the state of Bitcoin and other cryptocurrencies at the moment? Tweet your thoughts to us @TrustedReviews.

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