Bitcoin has seen a huge fall in recent days, dropping below $6,000 for the first time since mid-November. On Wednesday, it was trading above the $7,000 level as the cryptocurrency market stabilized.
At its lowest point Tuesday, the total cryptocurrency market saw over $550 billion wiped off its value.
On Monday, ECB President Mario Draghi said the bank’s supervisory board was working to assess whether digital currencies posed any potential financial stability risk. In a speech delivered to the European Parliament in Strasbourg, France, Draghi added that European banks were showing “limited appetite” for digital currencies like bitcoin.
