The current price of bitcoin is $38,420.35 (£27,151.23), which is a rise of 2.36 percent in the past 24 hours according to CoinMarketCap.
Other cryptocurrencies have also experienced decline in the past 24 hours with Ethereum, Cardano and Dogecoin dropping by 4.17, 3.05 and 5.41 percent respectively.
Over the past seven days, there is an even more significant period of decline for each of these digital coins.
Bitcoin fell by 20.02 percent, Ethereum by 36.83 percent, Cardano by 29.53 percent and Dogecoin by 30.91 percent in the past seven days.
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