Bitcoin Drop Slightly Lower Monday





Bitcoin prices traded slightly lower Monday, after the digital currency over the weekend retreated below $7,000

A single bitcoin BTCUSD, -1.61% last changed hands at $6,979.42 down 1.2% since Sunday 5p.m. Eastern Time on the Kraken exchange. Since Friday's high, the No. 1 digital currency has lost $10 billion in value and currently trade at $6,979.42 according to data from CoinMarketCap.

The recent downtrend comes despite recent bullish news that should support optimism in the digital asset.

on Friday, the Intercontinental Exchange, the parent company of the New York Stock Exchange, said it plans to launch a new company that enables "consumers and institutions to buy, sell, store and spend digital assets on a seamless global network," seemingly a positive step for the industry.

But in an interview with Jamie Dimon, over the weekend, the chief executive of JPMorgan Chase & Co. said he had no interest in bitcoin adding that cryptocurrencies are a scam, according to a Bloomberg article.


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