Bitcoin just dropped below $7,000 for the first time since Tuesday. If you are planning to buy Bitcoin at a lower cost then this is the time.

Today Bitcoin dropped 4.9 per cent to $6,795, down from an opening price of $7,146.78. The cryptocurrency hit a high of $7,800 earlier this week.

The reason for the sudden price fall of Bitcoin is the closure of Bitcoin Classic, one of the several forks in the main Bitcoin currency, because it had been superseded by Bitcoin Cash. It follows the suspension of another split, called Segwit2x, after the community could not agree on the upgrade. The planned increase to the blocksize was proposed as a scaling solution for Bitcoin but proved unpopular with many Bitcoin buyers.

This whole situation is an excellent opportunity for people who were waiting to buy their first bitcoin at a slight crash.