Cryptocurrencies
Bitcoin's Deepening Crash Now Approaches Its Worst Bear Markets
- Cryptocurrency is down about 80% from record high in December
- Oanda’s Erlam says token risks sinking to the $3,000 level
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Bitcoin broke below $4,000 and extended its 2018 crash to within striking distance of the biggest cryptocurrency’s worst bear markets.
The virtual currency conceived just over a decade ago slid as much as 17 percent to $3,523 on Monday, bringing its decline from last December’s record high of almost $20,000 to about 80 percent. All nine of its largest peers tracked in real time by Bloomberg fell, with drops ranging as high as 21 percent for Monero.