Bitcoin price falls below $200, hitting six-month low

The price of Bitcoin fell below $200 today, the first time since January 18 this year.

According to the CoinDesk Bitcoin Price Index, the average price of Bitcoin across the entire network fell to a minimum of $198.23. The largest drop occurred on the BTC-e platform, with the lowest point reaching $192.

As of press time, the price of Bitcoin has recovered from its lowest point to $203, while it is still below $200 on some markets, such as BTC-E.

According to data from CoinDesk BPI, $198 is the lowest average price of Bitcoin in the past six months (excluding single-day price fluctuations on individual exchanges).

It is reported that the turmoil in the Bitcoin market may be related to the broad decline in global stock markets.

China's stock market also saw a wave of selling, with reports showing the Shanghai Composite Index experienced a historic 8.49% plunge this week.

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