The price for bitcoin is reversing gains but the jury is still out on its future.
It slid below $7,000 briefly before struggling back to prices above that level. At 18:58 UTC Monday, bitcoin dipped to $6,948.57, a drop of approximately $400 from the day’s start. At 14:50 UTC Tuesday, the cryptocurrency was trading at $7,033. (See also: Bitcoin Price Falls After Reaching Record High Over The Weekend.)
Six of the world's 10 most-traded cryptocurrencies were trending downwards after gaining in price yesterday. Notably, Bitcoin Cash, which had registered significant increases in the last couple of days after a successful fork, was trading at $610.29, down by 4.08% in the last 24 hours. On an overall basis, the cryptocurrency market was worth $195.3 billion at 14:56 UTC. It has shed over $5 billion in market capitalization since the weekend.