Bitcoin now below $7,000: Crypto has seen 50% value erosion in 2018 alone

Regulatory pressure is mounting in the cryptocurrency space, while major social media platforms are distancing themselves from the industry

Bitcoin’s miserable quarter isn’t over yet.

The world’s biggest cryptocurrency by market value dropped below the $7,000 mark Friday morning in Asia, the first time it’s breached that level since early February, according to data compiled by Bloomberg. It fell as low as $6,912 before rebounding, trading at $7,094 as of 7:50 am in Hong Kong. The moves took the token’s losses in 2018 to a whopping 50 per cent, and other digital assets, including rivals Ripple and Litecoin, slumped more.
 

In addition, regulatory pressure is mounting in the cryptocurrency space, while major social media platforms are distancing themselves from