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Bitcoin Now at $5,000, Slumps to Another 13-Month Low


Last Updated: November 20, 2018, 12:39 IST

Image for representative purpose.

Image for representative purpose.

Bitcoin has slumped to a fresh low, because of fears over a "hard fork".

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 percent 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 destabilise others.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed - Reuters)
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