Cryptocurrencies
Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability
- Cryptocurrency breaches $9,000 for first time since November
- India adds to Facebook, hacking, price manipulaton fears
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Bitcoin slumped as much as 15 percent, sending the digital coin to its low for the year, amid mounting concerns of increased regulation and the viability of the biggest cryptocurrency.
After reaching a record high of $19,511 on Dec. 18, Bitcoin has lost more than half its value as the token has been weighed down by expectations of more government oversight globally, fears of price manipulation, the susceptibility of exchanges to hacking and lingering concern that it’s all just an asset bubble. Facebook announced a ban on cryptocurrency ads this week.