Bitcoin falls below $5,000 for first time since Oct 2017
Bitcoin opened trading on Wednesday at $6,326 and has since seen its market capitalisation fall to less than $100 million for the first time in over a year.
London: The value of bitcoin slipped Monday below $5,000 (4,367 euros) for the first time since October 2017 as volatility returned to the cryptocurrency market.
Data compiled by Bloomberg showed the world´s most popular virtual currency losing about 10 percent of its value from Friday evening to stand at $4,958.36 at 1635 GMT.
It rebounded slightly to trade at $5,065 at 1710 GMT.
The rout on the crypto market began on Wednesday and also affected widely traded currencies such as Ethereum and Ripple.
Bitcoin opened trading on Wednesday at $6,326 and has since seen its market capitalisation fall to less than $100 million for the first time in over a year.
The still-nascent market is not completely transparent and analysts have struggled to understand what prompted the latest selloff.
Bitcoin´s all-time high of $19,511 was recorded last year on December 18, 2017.
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