Cryptocurrencies
Bitcoin Extends Its Collapse
- Digital token is down as much as 20 percent in four days
- Professor who rang VIX alarm says tether used to boost Bitcoin
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Bitcoin extended losses, bringing its four-session slide to as much as 20 percent, as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge.
After rallying more than 1,400 percent in 2017 amid an investor frenzy for digital assets, Bitcoin is down almost 70 percent to around $6,238 as of 4:37 p.m. in New York, from its record high of $19,511 set in December. It traded at a few cents after being launched in 2009.