Bitcoin extends losses, down 10 percent on day

LONDON (Reuters) - Bitcoin, the world's best-known cryptocurrency, extended losses on Monday to slumped 10 percent on the day on back of concerns about a widening regulatory crackdown.

The price of Bitcoin on the Luxembourg-based Bitstamp exchange was trading at $7,289 and has now fallen by more than half from a peak of almost $20,000 hit in December.

(Reporting by Saikat Chatterjee; editing by Sujata Rao)