Bitcoin extends falls as selloff in crypto currencies resumes – Channel NewsAsia

Bitcoin extended its falls on Monday to US$3,843 , down more than five percent from the day’s highs on renewed selling in cryptocurrencies.

FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustr
FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/File Photo

LONDON: Bitcoin extended its falls on Monday to US$3,843, down more than five percent from the day’s highs on renewed selling in cryptocurrencies.

Other cryptocurrencies also fell sharply, with Ethereum’s ether down 1.6 percent and Ripple’s XRP down a similar amount in a largely sentiment-driven slide.

Bitcoin was last trading at US$3,880 – holding above 2018 lows hit last week. A broad-based selloff in digital currencies has knocked off three-fourth in value of the world’s best known cryptocurrency this year.

(Reporting by Dhara Ranasinghe; Editing by Saikat Chatterjee)

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