Bitcoin Fall Extends to 25% as Fears of Crypto Crackdown Linger
- China is said to escalate clampdown on trading, mobile apps
- European securities authority criticizes Bitcoin’s volatility
Bitcoin Loses 50% Since December
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January’s cryptocurrency selloff got fresh impetus on Tuesday when Bitcoin slumped as much as 25 percent, as the prospect of regulatory crackdowns appeared to spread.
While the largest digital coin was down 25 percent at $10,338 as of 4:37 p.m. in New York, it was still at the lowest level since early December, according to composite pricing on Bloomberg. As Bitcoin halted its two-day rally, rival cryptocurrencies also tumbled. Ripple sank as much as 40 percent and Ethereum dropped 26 percent.