MOSCOW, February 5. /TASS/. The price of Bitcoin has dropped below $70,000 for the first time since November 6, 2024, the day of the US presidential election, which Donald Trump won, according to Binance platform data.

As of 2:28 p.m. Moscow time (11:28 a.m. GMT), the Bitcoin price was down by 4.37% at $69,970. By 2:38 p.m. Moscow time (11:38 a.m. GMT), the price of Bitcoin had narrowed losses to 3.77% reaching $70,404.

Bitcoin is a cryptocurrency invented in 2008 by an unknown person or a group of people using the name Satoshi Nakamoto. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without intermediaries.