Cryptocurrencies
Bitcoin Drops to Lowest Since February as Collapse Accelerates
- Digital token has declined more than $1,000 in two days
- Trading venues coming under increased scrutiny worldwide
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Bitcoin tumbled to its lowest level since February as the meltdown in the world’s largest digital currency accelerated, renewing concern about the long-term viability of the much hyped alternative to traditional currencies.
The price of the digital coin fell as much as 4.6 percent Tuesday to $6,450.01, bringing the slide for the year to more than 50 percent. It’s down from a record high of $19,511 reached in December, the culmination of the more than 1,400 percent surge seen in 2017 as Bitcoin burst on to the mainstream.