Bitcoin slips below $40,000 amid regulatory threats
Bitcoin tumbled in an extended selloff for cryptocurrencies, falling to around $38,000 — its lowest level in six months. The largest token sank as much as 10 per cent on Friday, marking a three-day downturn.
Other cryptocurrencies were similarly in the red as investors offloaded risky bets in a volatile week for global markets. Ether fell below $3,000, losing as much as 14 per cent. Digital assets suffered especially in recent days against a wider tech sell-off, rising regulatory threats and concerns around tighten-ing Fed policy.
“Rumors of Russian mining bans, the effects of tapering and regulatory concerns in certain jurisdictions are currently taking more weight in investment decisions,” said Jason Deane of digital asset research firm Quantum Economics.
