Bitcoin price LIVE: BTC slides to $6k as entire crypto market DROPS $100 billion in a week

8.30am MORNING HEADLINES

Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.

Bitcoin is priced at $7,131 after recovering from an overnight fall to $6,630.

CCN report that although over the past 24 hours, BTC has marked a 12 percent decline in value, the good times could soon return with Abra CEO Bill Barhydt claiming that all will change onve institutional investors and retailer traders arrive.

He said: "There really is zero large-scale institutional money from the west in crypto right now. That is happening in Japan. Once a large sizable chunk of Western institutional money starts to come in — watch out.”

Despite market volatility, Mr Barhydt says that hedge funds, institutional investors, and investment firms are still actively looking into the cryptocurrencies, and exploring ways to enter the market.

He said: "I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”

Updates below throughout the day....

10.50am - UPDATE - Japanese clampdown - 'massive'

CNN report from Japan where two virtual currency exchanges closed down this week amid increasing scrutiny from the country's financial services watchdog. The trading platforms, Mr Exchange and Tokyo Gateway, both failed to secure a license from Japan's Financial Services Agency.

Stephen Innes, head of Asia-Pacific trading at currency broker Oandam said: "The regulatory clampdown in Japan is a massive negative".

9.52am - UPDATE - Bitcoin 'drilling machines' stolen in Chesterfield

The Derbyshire constabulary has appealed for information on Bitcoin "drilling machines".

Police report that eighteen Antminer S9 bitcoin mining machines were stolen from West Bars House in the early evening of Tuesday, March 21.

Officers are appealing for anyone who may have seen anyone in the West Bars area of the small market place in Chesterfield town centre to come forward. Of particular interest are any reports of people who have been seen loading items into a vehicle at that time.

8.51am - UPDATE - BTC moving north

Bitcoin is slowly bringing back some of its overnight losses with the price now at $7,231.

BTC should stay above the 2018 low of $5,947 posted on Feb 6th.