2017.07.1621:23:00UTC+00Bitcoin Retreats Farther from June High

The price of the bitcoin dropped over the weekend, falling below the $2,000 mark and farther from its June peak. The decline in the cryptocurrency was part of a broad selloff in the digital currency market, including the ether.

Bitcoin traded as low as $1,836 on Sunday, according to CoinDesk. It was trading down around 8 percent during the day and almost 40 percent from its peak level of $3,018 hit on June 11. Meanwhile, the ether, used on the Ethereum network, fell as low as $155 on Sunday, down around 60 percent from its June 13 high of $395.

Prices across dozens of digital currencies traded lower on Sunday, particularly the tokens created via the initial coin offering or ICO process.

The wave of sell offs that swept the market is another reminded that despite all the promises digital assets bring, they remain highly speculative trading vehicles, with markets around them still relatively immature and illiquid resulting in extremely volatile trading.