Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index's decline since November 16 to 23 per cent
Bitcoin's price has tumbled to near $4,000, down 30 per cent in a month, 50 per cent in six months and almost 80 per cent since December
By mid-afternoon, it was trading around $4,750 on the Bitstamp exchange
Several countries have taken a cautious approach to cryptocurrencies, but few have gone to the extent of dissuading their use like India has done
Bitcoin declined as much as 9% to $4,958, while so-called alternative coins slumped even more, with Ether tumbling as much as 12% and Litecoin cratering as much as 13%