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Bitcoin at lowest level this yr, breaches $4,300; losses top 25% in a week

By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange


Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 per cent to breach $4,300 and taking losses in the world's best-known digital coin to 25 per cent within a week. Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam. The fall followed a sudden plunge last week that shook bitcoin out of a period of relative stability, where prices had hovered around the $6,500 mark for several months. Bitcoin sunk as far as $4,327, ...

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First Published: Tue, November 20 2018. 21:55 IST