Meeting between miners, core developers triggers drop in bitcoin price

Avid bitcoin followers might have noticed that the price of the popular digital currency has been on the downward trend lately.

On Tuesday, the cryptocurrency traded at $602.93 per bitcoin—a drop of more than $50 from last week’s price—while market capitalization also dipped to $9.55 billion.

But there’s no need to fret—yet—according to some analysts, who chalked up the price drop to the “market uncertainty” caused by the recently-held meeting between miners and bitcoin core developers.

The meeting was closed to media representatives or independent observers, so details are sparse. There were reports, however, that nearly two dozen developers from the Bitcoin Core and Lightning as well as seven Chinese miners and representatives from mining companies attended the meeting.