Bitcoin slides below $6000; half its value lost in 2018

Bitcoin price- Ronnie Moas

CBC•GETTYBitcoin price warning Ronnie Moas said bitcoin could reach $100,000 in the next couple of years

The Bitcoin sorrows continue on Tuesday, as all digital coin are struggling to make a comeback.

The virtual coinage made a slight recovery following that, to stand a few hundred dollars over $6,000 at the time of writing, but the value dropping below that mark is telling because it meant that Bitcoin shed half its value since the beginning of the year.

February has been a cruel month for crypto investors.

The mood has been quickly changing around cryptocurrencies, which are suffering from tougher regulatory scrutiny from governments in China, India and South Korea.

Other cryptocurrencies, including Ripple, the third-largest by market value, and Bitcoin Cash, have also racked up double-digit declines in the last 24 hours, according to Coinmarketcap.com, which tracks the industry.

Meanwhile, Facebook recently banned adverts for Bitcoin and other cryptocurrencies on its sites after criticism from users about scams and hoaxes being promoted in their newsfeeds.

Yesterday was also a awful day for the Dow Jones, seeing its largest one-day points fall in history.

As of 9am on Tuesday morning, the Ripple (XRP) price has plunged to lows of $0.63 - a drop of 19.48 percent.

The Dow's theatrics scared off investors who turned to crypto coins, Business Insider reported on Monday afternoon.

However, all that optimism vanished by early Tuesday morning, when the price dipped below $6,000.

Altcoins have followed Bitcoin's drop as well. The top 10 digital currencies, Bitcoin included, are trading well below yesterday's levels, with drops ranging from 16.75% for Bitcoin to 23.02% for Neo. Ethereum was down nearly 30 percent at $589, losing all the gains it saw this year.

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