Bitcoin falls to fresh 2-1/2 month low

Bitcoin falls to fresh 2-1/2 month low

21:09 05 February 2018 Read: 1831

Bitcoin falls to fresh 2-1/2 month low

Bitcoin, the world’s best-known cryptocurrency, fell 7 percent on Monday to a fresh 2-1/2-month low of $7,599 on back of growing worries about a regulatory clampdown and bans on the purchase of the digital coins.

The price of Bitcoin on the Luxembourg-based Bitstamp exchange has now fallen by more than half from a peak of almost $20,000 hit in December. Last week it suffered its worst weekly performance since 2013.

British bank Lloyds Banking Group on Sunday said it was banning customers from buying Bitcoin using credit cards. It joined U.S. banking giants JPMorgan Chase & Co and Citigroup who announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value.

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