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Bitcoin Tumbles as Cryptocurrency’s 2019 Surge Starts to Waver

  • Largest cryptocurrency still up almost threefold this year
  • Drop in Bitcoin on Monday exceeds 18%; alt-coins also slip
Bloomberg business news
This Week's Hot Trade: Why We're Watching Bitcoin
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Bitcoin slumped, undoing some of this year’s epic rally and amplifying a recent trend of outsized weekend moves.

The largest cryptocurrency fell more than 18% from Friday to trade at $10,294 as of 11:58 a.m. in New York, according to prices compiled by Bloomberg. It’s still up almost 200% since the start of the year. Most other large coins also dropped, with Bitcoin Cash and Dash declining at least 7.6%. Litecoin erased an earlier gain.