Bitcoin price declines for a second day after rising during the week


The price of the cryptocurrency, “Bitcoin”, fell on Thursday for a second day after a rally this week, amid an increase in demand in virtual currencies.


At the time (09:58 GMT), the price of the largest cryptocurrency in the world by market value was trading, with a slight decrease of 0.75 percent, to 46,982 dollars.

The market value of the currency reached 882 billion dollars, with a total of 18.8 million units traded out of a total of 21 million units offered for trading.

The decline came after a major rally during the past days, as the most prominent virtual currency broke the barrier of 50 thousand dollars per unit on Monday for the first time since trading in mid-May.

In April, Bitcoin rose to an all-time high of $63,000.

And it fell remarkably to 28,800 dollars after large-scale selling in June and July.

This is due to the Chinese ban on financial and payment companies providing services related to cryptocurrency.


Other digital currencies also declined, including “Ethereum”, the second largest in the world by market value after Bitcoin, by 0.3 percent to $ 3,105, with a total of $364 billion.

The “Cardano” currency fell 2.8 percent to reach $2.59, and the “Dogecoin” fell 3.1 percent to $0.27.

In this morning’s trading, the market value of the total virtual currencies around the world fell to $2.08 trillion.

It is distributed over 9,096 virtual currencies that are traded through 491 platforms.

Virtual currencies do not have a serial number, and are not controlled by governments and central banks like traditional currencies, but are only dealt with over the Internet without a physical presence.