On Tuesday bitcoin prices traded near the lowest level in more than five months, as concerns about possible regulation of the virtual currency continued to disturb.
Bitcoin (BTC/USD) tacked on $1.10 on Slovenia-based BitStamp to trade at $377.00 during
U.S. morning hours.
BitStamp prices fell to $366.71 on Monday, a level not seen since April 11.
Bitcoin prices were likely to find support at $339.79, the low from April 11, and resistance at $403.99, the high from September 28.
Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) climbed €7.52 to trade at €298.90 on U.S.-based Kraken Exchange.
More to that, yuan-denominated Bitcoin prices rose 13.16 yuan to trade at 2,340.01 yuan on Beijing-based OKCoin, while prices on Shanghai-based BTC China jumped 26.28 yuan to trade at 2,340.08.
The price of a bitcoin on Bulgaria-based BTC-e added $3.10 to trade at $374.73, while prices on Singapore-based itBit advanced $1.29 to trade at $375.46.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency inched up 1.04% to trade at $378.62.
Market players remain concerned about possible regulation of the virtual currency among other adverse events in the industry.
New York's Department of Financial Services proposed a BitLicense on July 17. As per the proposal, firms would have to obtain a license to engage in the virtual currency business.
Some market analysts have expressed concerns over the proposal, saying increased regulation would pressurize the Bitcoin industry.
