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Bitcoin slides below $6,000; half its value lost in 2018

Bitcoin has fallen heavily in recent sessions as worries about a regulatory clampdown on the nascent market panicked investors push prices lower.

Bitcoin medals. Picture: AFP

LONDON - Bitcoin slid another 13% to below $6,000 on Tuesday, bringing the world’s best-known cryptocurrency’s losses to more than half since the start of 2018.

Bitcoin has fallen heavily in recent sessions as worries about a regulatory clampdown on the nascent market and panicked investors push prices lower. The virtual currency hit a peak of almost $20,000 in December.

On the Luxembourg-based bitstamp exchange, bitcoin fell to as low as $5,920, its lowest level since mid-November, before recovering slightly. Other cryptocurrencies have also dropped sharply in value this week.

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