Bitcoin crashes to lowest this year, losses top 25 per cent in a week

  • The digital currency has sunk as far as US$4,300; traders and market makers blame it on heavy selling at leveraged exchanges in Asia

Bitcoin has plummeted over 75 per cent this year from a peak of US$20,000 touched in December as retail investors piled into a one of the largest bubbles in history. Photo: AFP

Bitcoin slumped on Tuesday to its lowest this year, tumbling as much as 10 per cent to breach US$4,300 and taking losses in the world’s best-known digital coin to 25 per cent within a week.

Other smaller coins also skidded sharply as a broader cryptocurrency sell-off, said by traders and market makers to be rooted in heavy selling at leveraged Asian exchanges, gathered steam.

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