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Bitcoin Tumbles to 5-Month Low as Libra Hit by U.S. Backlash

  • Google’s quantum computing claim adds to pressure on crypto
  • Alt coins such as Bitcoin Cash, Ether, Litecoin also decline
Updated on

The hostility toward Facebook’s Libra cryptocurrency appears to be weighing on the sentiment for Bitcoin.

The world’s largest cryptocurrency dropped as much as 10% to $7,305 in New York, the lowest level since May. Other digital tokens such as Ether and Litecoin, which dropped 11% and 13% respectively, slumped even more as Facebook Chief Executive Officer Mark Zuckerberg testified before the House Financial Services Committee on Wednesday.