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

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.