The year 2018 is a bad start for the bitcoin virtual currency. Monday, the cryptocurrency pioneer again declined by almost 20 percent to touch the range of 6,500 US dollars per chip.
The total market value of bitcoin was reportedly down by 67 billion US dollars or more than Rp 900 trillion in the past week. The total value of bitcoin in circulation is now in the range of 125.8 billion US dollars.
Bitcoin prices are now far behind, with a margin of more than 60 percent, from record highs in the range of 19,500 US dollars per chip recorded in December 2017.
The decline in bitcoin prices was triggered by a massive sell-off due to a lot of bad news that recently hit the cryptocurrency industry.
