Bitcoin bombs, cryptocoins crash on regulation fears

Bitcoin loses some 20% today trading following a mania over the cryptocurrency in the final weeks of last year that which saw the unit top RM80,000. – EPA pic, January 16, 2018.

BITCOIN, the best known of hundreds of ‘virtual’ coins, slumped today to a six-week low below US$12,000 (RM48,000) as analysts blamed a rush by various jurisdictions to regulate the sector.

The final weeks of last year were marked by bitcoin mania as the unit topped US$20,000, but it lost some 20% today trading which saw most of its fellow cryptocurrencies similarly wilt.

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