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Economy

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

A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017.
A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

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

READ MORE: Is Bitcoin a bubble that’s about to burst? Economists say ‘yes,’ crypto experts say ‘no’

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.

WATCH: What is Bitcoin? Explaining highly volatile cryptocurrencies

What is Bitcoin? Explaining highly volatile cryptocurrencies
What is Bitcoin? Explaining highly volatile cryptocurrencies

 

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