Bitcoin slumped more than 10% over the weekend to a two-week low as fears of a c...
FILE PHOTO: Bitcoin.com buttons are seen displayed on the floor of the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018. REUTERS/Mike Segar/File Photo
Bitcoin fell 11.1% from Friday to $9,855 early on Monday, its lowest since July 2. The original cryptocurrency slumped 10.4% on Sunday alone, its second-biggest daily drop this year. It was last up 0.5% at $10,245. U.S. President Donald Trump criticized bitcoin, Libra and other cryptocurrencies last week, demanding that firms seek a banking charter and subject themselves to U.S. and global regulations if they wanted to “become a bank”.
“Together they have increased the tail risk that the U.S. will look to crack down on it in some way,” said Jamie Farquhar, portfolio manager at crypto firm NKB Group in London.
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