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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.

Read more from the original source:

Bitcoin trades near 5-month low as regulation concerns weigh