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Sunday, March 15, 2020

Bitcoin plunges through $6,000 in worsening crypto rout

The largest digital currency fell as low as $7,353 and was down 5.6 per cent as of 3:25 p.m. in Hong Kong, according to consolidated pricing compiled by Bloomberg.

Bitcoin plunged on Thursday, at one point sinking through $6,000 for the first time since May as a sell-off in cryptocurrencies became a rout amid wider market turmoil sparked by the coronavirus pandemic.

The largest digital currency at one point tumbled to $5,705.31, though the move eased slightly to trade down 23% at $6,068 as of 7:37 a.m. in New York, according to Bloomberg pricing. The wider Bloomberg Galaxy Crypto Index slumped 25%, with Ether, XRP and Litecoin also plunging.

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