Bitcoin price – latest updates: Leading cryptocurrency fights back after slump

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The value of bitcoin skyrocketed in late 2017 and its rapid rise generated huge amounts of interest in it and the 1,567 other varieties of cryptocurrency available online.

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 – with cryptocoin exchanges reacting adversely to exterior threats like regulation, cyber-crime and advertising bans.

After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoin’s value tumbled to $12,000 (£8,630) 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 and enduring a rocky start to March.

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

50 mins ago

Here’s how the top five cryptocurrencies are priced this morning, according to CoinMarketCap.
Bitcoin: $8,916.95 (£6,299.12)
Ethereum: $559.20 (£395.03)
Ripple: $0.68 (£0.48)
Bitcoin cash: $1,035.68 (£731.63)
Litecoin: $167.90 (£118.61)
All five have experienced a slight dip in value over the last 24 hours, with ripple down the most by 3.95 per cent.

20 hours ago

Bitcoin is up to $9,044 (£6,431) this afternoon, according to Coinbase. Well on the road to recovery.
As for the other coins in The Independent’s portfolio, chosen by our audience at Ad Week yesterday, they are currently valued as follows, according to CoinMarketCap.
Bitcoin cash: $1050.25 (£747.16)
Ethereum: $577.32 (£410.71)
Litecoin: $173.26 (£123.16)
Monero: $231.69 (£164.83)

21 hours ago

Worrying news for the cryptocurrency sector today as a group of German academics have reported discovering images of child sexual abuse embedded within bitcoin’s blockchain.
This means that traders could potentially be accused of breaking the law, however unknowingly, in 112 countries just by virtue of having used the blockchain to carry out transactions or mine bitcoin.

1 day ago

Bitcoin’s resurgence continues today. It’s back up to $9,082 (£6,480), according to Coinbase. That’s an improvement of 7.17 per cent on yesterday morning and 7.77 per cent on this time last week.

1 day ago

This morning The Independent met with cryptocurrency enthusiasts at Ad Week and agreed on a portfolio of coins to invest in as part of our presentation.
These are the virtual currencies they chose:

We’ll be tracking our portfolio’s progress right here over the coming weeks.

1 day ago

Bitcoin is valued at $8,486 (£6,065) this afternoon, according to Coinbase, having enjoyed a much healthier 24 hours and increased in worth by 8.79 per cent on this time yesterday.

1 day ago

Bitcoin may still dominate the $327bn (£233bn) global cryptocoin market – with CoinMarketCap reporting a huge 44.1 per cent market share – but its biggest competitors like ethereum, ripple, bitcoin cash and litecoin all pose an ever-increasing threat.
Here’s a handy overview of their recent performance.

1 day ago

The threat of impending regulation from central banks across the world is continuing to cast something of a shadow over the cryptocoin sector.
Another worrying trend for cryptocurrency businesses is the giants of social media and search turning their backs on advertising.
Twitter is reportedly now considering joining the likes of Google and Facebook in taking a blanket approach to prohibiting promotions for initial coin offerings, exchanges, wallet and other services, rather than investigating and judging on a case-by-case basis.

1 day ago

If you’re new to bitcoin and the often surreal world of cryptocurrency investment, here’s a useful introduction to some of the odder aspects of the culture.
As comedian John Oliver recently pointed out, “in a speculative mania, it can be incredibly hard to tell which companies are for real”, and, as if to illustrate the point, yesterday the US Federal Trade Commission sued two businesses for pyramid selling scams.
Even Ryan Gosling has been caught up in the craziness. Be careful out there.

1 day ago

The town of Plattsburgh, New York, has meanwhile become the first in the US to outlaw bitcoin mining as part of a local council bid to rein in high electricity usage.
The process sees servers being used to carry out complex calculations to authenticate bitcoin transactions, with the computers that generate the correct answer standing a chance of being rewarded with a newly minted coin.
So far, some 16m of the 21m total bitcoins that will ever be produced have been mined for circulation.

1 day ago

In other cryptocurrency news this morning, US President Donald Trump has issued an executive order making it illegal for Americans to purchase the Venezuelan petro.
Nicolas Maduro’s government introduced the oil-backed digicoin as a means of winning new international funding to tackle hyper-inflation and the country’s growing cash shortage but it has been described by outside analysts as “one of the worst investment opportunities ever.”

2 days ago

Bitcoin starts the day valued at $8,490 (£6,046), according to Coinbase.
That represents an 8.86 per cent increase on this time yesterday – good news for the leading cryptocurrency as it seeks to climb back to its customary valuation and retain some stability.

2 days ago

Bitcoin’s value growth today has been impressive, despite the bad news for its sector below. It is now worth $8,629 (£6,145), according to Coinbase.
That’s up a huge 16.37 per cent on this time yesterday.

2 days ago

The US Federal Trade Commission is suing two companies, Bitcoin Funding Team and My7Network, for carrying out what it alleges was a cryptocurrency pyramid scheme.

2 days ago

Twitter is reportedly about to join the likes of Google, Facebook and Reddit in banning cryptocurrency advertising, a new blow to this emerging sector.

3 days ago

Bitcoin starts the week valued at $8,297 (£5,961), according to Coinbase.
The market leading cryptocurrency hit a recent low of $7,337 (£5,271) overnight and is down 9.4 per cent on this time last week and 22.8 per cent on a month ago.
It has rallied almost 8 per cent on this time yesterday morning, however, so is at least currently on an upward trajectory.

5 days ago

Bitcoin has rallied somewhat today and is now valued at $8,480 (£6,091), according to Coinbase, having sunk to a low of $7,944 (£5,706) in the wee hours. It’s up almost 2 per cent on yesterday.

6 days ago

After falling as low as $7,819 (£5,607) yesterday, bitcoin’s value is presently struggling back up and is now valued at $8,188 (£5,871), according to Coinbase.
It’s continuing to fluctuate erratically though at the tail end of this rockiest of weeks.

6 days ago

Bitcoin and its competitors have suffered a rough week and yesterday all but two of the CoinMarketCap index’s top 50 digicoins lost value following Google’s announcement that it will ban cryptocurrency advertising from June.

1 week ago

This morning bitcoin has continued its slide in value, starting the day at $7,900 (£5,623), according to Coinbase. That’s a loss of 13.39 per cent in just 24 hours. You can the its trajectory since yesterday in the graph below.
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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.