Bitcoin now drops even below $ 7,000

Baku. 30 March. REPORT.AZ/ Today, the price of bitcoin in Asia's crypto-currency markets has fallen below $ 7,000.

Report informs, currently, bitcoin is sold for $ 6,800.

At the same time, altcoin price has also dropped, and as a result, the total capitalization of the market has dropped to the lowest level since November 24, 2017 - below $ 249 bln. This is $ 585 (70%) less than a record level ($ 834 billion on January 7).

Analytical Group of Report informs, the decline in the crypto-currency market is due to the pressure from regulators on the global market as well as remoteness of social media organizations from the market.

Social media giant Reddit has confirmed that it will no longer accept Bitcoin as payment for its Gold membership. Twitter, Facebook, LinkedIn has banned crypto-currency adverts.

"Bitcoin is under selling pressure again and chances of its recovery are looking slim," Naeem Aslam, the chief market analyst at TF Global Markets, said in a note. It has "slid significantly, since the tech giants' ban on ICOs," he noted.

Analytical Group of Report News Agency believes, the crypto-exchange market will be restored and the next record capitalization rate will be recorded by the end of the summer months.