Bitcoin Starts May with Slide Below $9,000

The cryptocurrency traded 3.9 percent lower at around $8, 880. The decline came after an increase of around 33.5 percent for April. There was no immediately apparent reason for bitcoin's decline, which started overnight. Bitcoin has struggled to climb back to $10, 000 in the last several weeks and continues to be almost 36 lower for the year.

Japanese yen represented around 41 percent to bitcoin trading volume, according to CryptoCompare. U.S. dollar-bitcoin trading accounted for around 25 percent and ether represented around 20 percent of trading volume.

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