Bitcoin’s Slide Extends for Fourth Day as Risk Aversion Surges
- Technical gauges suggest Bitcoin appears set to retest lows
- Cryptocurrency has tumbled more than 50% since February high
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Bitcoin tumbled as much as 18% with risk aversion the dominant theme across asset classes amid the coronavirus outbreak.
The largest cryptocurrency was down 7.5% to $5,026 as of 12:45 p.m. in New York, after dropping as low as $4,442, according to Bloomberg data. It has slumped about 55% from the $10,500 high for the year set Feb. 13. Other alt coins tumbled, with Ether down about 12% and Litecoin off more than 8% on Monday.