The cryptocurrency’s top dog Bitcoin is slowly losing descent, dropping down its net worth as the hype that surrounded the Segwit2x hardfork cancellation loses footing.
The digital currency’s price is down to more than 8 percent, following the descent that began after it slipped below the $7,000 it previously surpassed.
The market has fallen to numbers as low as $6,475.40, which is the lowest reported level since Nov. 1, when the trades were worth between $6,357 and $6,750.17. Furthermore, it slid even further below $7,000 in clear contrast to the bullish market that pushed bitcoin’s price up to $7,900 earlier this week.
In the earlier weeks, the price had soared up to as high as $7,330.06, meaning today’s sharp downturn is $600 less than that level.
At press time, Bitcoin is trading at $6,572.24.
The price decline is in contrast with the gains seen today in the community of Bitcoin Cash, which went up to about 43% in a day according to CoinMarketCap.
As of this moment, Bitcoin Cash is trading at roughly $882 on Bithumb, which is the largest exchange by trade volume for that cryptocurrency.