The plunge saw an average low of USD 198.23, according to the CoinDesk Bitcoin Price Index (BPI), with the largest decline taking place on BTC-e, which saw a low of USD 192. The price has recovered from those lows to roughly USD 203, though prices in some markets, including BTC-e, remain below USD 200.
According to data from the CoinDesk BPI, the USD 198 figure is the lowest average price low in the last six months, excluding instances of single-day volatility on individual Bitcoin exchanges.
The move follows a day of Bitcoin market turbulence and widespread volatility in stock markets worldwide. The sell-off notably coincided with further market turmoil in China. Reports indicate that the Shanghai Composite Index is falling once more after a historic 9% plunge earlier this week.
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