Bitcoin extends slide to below US$4,500; loses 30pc in a week

Bitcoin extends slide to below US$4,500; loses 30pc in a week

LONDON,. Bitcoin tumbled more than 7.5 per cent today to below US$4,500, knocking off nearly a third in value of the world’s best-known cryptocurrency’s losses within a week as a selloff in digital currencies intensified across the board.

Other cryptocurrencies also fell sharply, with Ethereum’s ether losing 10 per cent and Ripple’s XRP down 13 per cent in a largely sentiment-driven slide.

Bitcoin is now trading at US$4,354.20, its lowest level on the Bitstamp exchange since October 2017. — Reuters