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Bitcoin Price Drops to Within $100 of 2018 Low
The price of bitcoin fell to within $100 of its 2018 low Friday morning as last weeks rally proved to be short-lived.
By Sam Ouimet
Updated Sep 14, 2021, 1:53 p.m. Published Jun 22, 2018, 7:21 p.m.
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The price of bitcoin fell to its lowest point since February today.
As of press time, the leading cryptocurrency's price went as low as $6,063, according to CoinDesk's Bitcoin Price Index (BPI), a significant drop considering the day's opening price of $6,717.20.
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The near-$700 decline (which saw prices decline roughly 10 percent) effectively brought bitcoin to within $100 of its 2018 low of $5,947, reached February 6.
At the time, bitcoin was in free-fall amid regulatory uncertainty, with the decline occurring during the week in which the heads of major U.S. regulators were to meet and discuss the cryptocurrency's price rise with a committee of U.S. lawmakers. Ultimately, however, no action was taken and the price rebounded 40 percent on the week.
Conditions today, however, look different.
At press time, bitcoin's price – currently hovering just above $6,000 – is down more than 60 percent from the 2018 high of $19,783 set in January. Further, aside from some potential action against smaller Japan-based exchanges, no major news drivers are currently impacting the market.
Other cryptocurrencies are following suit as bitcoin continues to flirt with support levels, as shown in data published by sources like OnChainFX.
Litecoin, for example – the world's sixth largest cryptocurrency by market cap – hit its lowest level in 7 months on Friday. The price of ether currently at about $479, roughly 60 percent from its all-time high in December 2017.
As it stands, the overall cryptocurrency market cap is $259 billion, down from its high of $813 billion, according to CoinMarketCap.
Other indicators similarly depict the state of the market as it stands today.
The Relative Strength Index (RSI), a popular momentum indicator, demonstrates a weekly value of 41 according to Bitfinex exchange data, a level that was last seen in August 2015.
Compared to bitcoin's lowest weekly RSI level (27) for the prolonged bear market in 2014, current levels show scope for significant additional depreciation.
Image via Shutterstock
あなたへの
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
知っておくべきこと:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
あなたへの
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
知っておくべきこと:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
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