Investing.com - Bitcoin prices traded near the lowest level since April on Monday, amid concerns about possible regulation of the virtual currency.
Bitcoin (BTC/USD) tacked on $4.23, or 1.06%, on Slovenia-based BitStamp to trade at $404.23 during U.S. morning hours. BitStamp prices fell to $379.50 on September 19, a level not seen since early April.
Bitcoin prices were likely to find support at $379.50, the low from September 19, and resistance at $452.99, the high from September 18.
The price of a bitcoin on Bulgaria-based BTC-e added $5.50, or 1.43%, to trade at $388.71, while prices on Singapore-based itBit advanced $2.08, or 0.52%, to trade at $402.18.
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 $400.68.
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.
Meanwhile, euro-denominated Bitcoin prices (BTC/EUR) rose €3.59, or 1.15%, to trade at €316.00 on U.S.-based Kraken Exchange.
Elsewhere, yuan-denominated Bitcoin prices climbed CNY19.53, or 0.8%, to trade at CNY2,472.60 on Beijing-based OKCoin, while prices on Shanghai-based BTC China rallied CNY25.26, or 1.03%, to trade at CNY2,476.35.
Bitcoin is digital cash and is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.