The rally of Bitcoin is slowing down, with the digital currency dropping below $4,000 temporarily in early trade on Monday.
Last week, Bitcoin rose against the dollar, breaking through $4,000 for the first time since two Sunday’s ago before peaking at $4,479.
However, traders have been booking profit over the weekend after a pause for breath on Friday. As a result, Bitcoin has been drifting lower against the dollar.
At 8.57 a.m. BST (3.57 a.m. ET), Bitcoin has rallied slightly to $4,024.07 after the cryptocurrency plummeted below $4,000 a coin just before 8.00 a.m. BST (3.00 a.m. ET). This change is equivalent to a 0.8% drop against the dollar on the day. Bitcoin persists near historic highs despite the decline.
Outside the cryptocurrency world, a new digital currency split off from Bitcoin at the start of the month, Bitcoin Cash, is dipping against the dollar after posting massive gains over the weekend. At 7.55 a.m. BST (2.55 a.m. ET) Bitcoin Cash is down 5.3% to $681.53.
The second-biggest cryptocurrency after Bitcoin by market value, Ethereum, is up 5.1% versus the dollar to $323.96 at the same time.