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Bitcoin slumps to $10,000

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Bitcoin slid to $10,000 on Wednesday for the first time since Dec. 1, leaving it down by close to half from its peak hit last month, with investors spooked by fears regulators could clamp down on the volatile cryptocurrency that skyrocketed last year.

Bitcoin touched a peak of almost $20,000 in December - and indeed crossed over that threshold on some exchanges - but has since been roiled by several large sell-offs.

Other cryptocurrencies plunged as well. Ethereum and Ripple were both down heavily after reports South Korea and China could ban cryptocurrency trading, sparking worries of a wider regulatory crackdown.

Ethereum, the second largest cryptocurrency by market value, was down 18 percent since Tuesday, according to website CoinMarketCap.

Ripple, the third biggest, has lost 25 percent of its value over the past 24 hours and was quoted at $1.03, down from a high of $3.81 on Jan 4.

With South Korea, Japan and China all making noises about a regulatory swoop, and officials in France and the United States vowing to investigate cryptocurrencies, there are concerns that global coordination on how to regulate them will accelerate.

Officials are expected to debate the rise of bitcoin at the upcoming G20 summit in Argentina in March, as Reuters Reports.

Ethereum, the second largest cryptocurrency by market value, was down 18 percent since Tuesday, according to website CoinMarketCap.

Ripple, the third biggest, has lost 25 percent of its value over the past 24 hours and was quoted at $1.03, down from a high of $3.81 on Jan 4.
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