Bitcoin Slumps Again After Briefly Rising above $9,000 Level

Investing.com – Digital currency bitcoin slumped on Sunday after briefly rising to a one-week high above the $9,000 level in the previous day as a recent price recovery appeared to run out of steam.

was trading at $7,880.1 by 04:27 AM ET (09:27 AM GMT) on the Bitfinex exchange, down around 9.5% for the day.

Bitcoin has had a turbulent start to the year after it saw its price plunge from an all-time high of nearly $20,000 in December 2017 to a low of $6,000 on February 6.

The cryptocurrency rebounded from that level to hit a high of $9,074.30 on Saturday, before it saw its price drop once again. Bitcoin remains down around 23% for February.

Cryptocurrency prices have come under pressure as some countries clamped down on trading and major banks implemented a ban on using credit cards to buy digital currencies…

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