LONDON (Reuters) – Bitcoin fell below $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered momentum.
As of 1645 GMT the original cryptocurrency was down 8.7% at $5,100, after breaching the landmark for the first time since Oct. 12, 2017.
Traders said selling was largely sentiment-driven and cited fears that Thursday’s “hard fork” in Bitcoin Cash, where the smaller coin split into two separate currencies, could destabilize others.
(Reporting by Tom Wilson; Editing by Tom Finn)
Be the first to comment