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No End in Sight for Crypto Sell-Off as Bitcoin Approaches $4,000

  • Bitcoin extends rout as digital assets drop across the board
  • Slump coincides with Bitcoin Cash split, U.S. investigations
Bloomberg business news
Bob Doll, chief equity strategist and senior portfolio manager at Nuveen, examines Bitcoin’s plunge.(Source: Bloomberg)
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Turmoil engulfed cryptocurrency markets again on Tuesday, with every major coin extending a rout that’s rocked confidence in the nascent asset class just as U.S. regulators try to close in on alleged fraud.

Bitcoin fell as much as 13 percent to $4,051, bringing this week’s decline to more than 25 percent. It traded at almost $20,000 last December. The slide helped fuel a sell-off among rival tokens Ether, Litecoin and XRP, which pared an earlier loss that reached 17 percent.