Bitcoin extended losses, bringing its four-session slide to as much as 20 percent, as questions mount about whether the worlds biggest cryptocurrency was manipulated during last years record price surge.
After rallying more than 1,400 percent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 percent to around $6,238 as of 4:37 p.m. in New York, from its record high of $19,511 set in December. It traded at a few cents after being launched in 2009.
Things have changed for Bitcoin and the crypto space, said Craig Erlam, senior market analyst at online trading firm Oanda Corp. in London. There doesnt seem to be as much hype, or positive news. Every time we get a negative news story now -- after a period of consolidation -- we dont see bullish sentiment come in to support it. Its almost as if people are waiting to sell it.
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https://www.bloomberg.com/news/articles/2018-06-13/no-let-up-for-bitcoin-as-biggest-cryptocurrency-extends-decline