Bitcoin and other cryptocurrencies slumped again on Monday as sentiment continued to sour over the outlook for the industry following a split in one of the main tokens and amid a step up in regulatory scrutiny.
Bitcoin, the first and best known of the cryptocurrencies, was down 7.3 per cent at $5,056.53, after having fallen below the $5,000 mark to hit its lowest level in 13 months earlier in the session, according to data from Coindesk.
Others dropped even more, with Ethereum, the third-largest digital currency by market capitalisation, tumbling nearly 12 per cent to $150.72. Litecoin fell by a similar margin to $36.95. XRP, a token associated with Ripple, fared the best among the virtual currencies, dropping only 2.9 per cent to $0.4958.
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