reuters

Bitcoin extends slide below $4,500, new 2018 low

LONDON (Reuters) – Bitcoin tumbled as much as 10 percent on Tuesday to below $4,500 BTC=BTSP, bringing the world’s best-known cryptocurrency’s losses to 30 percent within a week as a selloff in digital currencies intensified across the board.

Other cryptocurrencies also skidded sharply, with Ethereum’s ether losing 10 percent ETH=BTSP and Ripple’s XRP XRP=BTSP down 13 percent in a largely sentiment-driven slide.

The latest move lower started this month after a period of relative stability, with prices of bitcoin having hovered around the $6,500 mark for several months.

“The euphoria has died and prices have consolidated with lower lows and lower highs. A lot of people have lost interest,” said Fawad Razaqzada, an analyst at Forex.com.

Tuesday’s falls coincided with broader drops in financial markets. European shares weakened following a big fall on Wall Street…

Read Full Article: Reuters

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