Bitcoin skidded as much as 9% on Tuesday, falling below the $10,000 mark and pushing losses to over 30% since the original cryptocurrency hit an 18-month-high last week.In volatile trading, bitcoin recovered some of that ground by early afternoon to trade down 6% at $9,953.
Traders said there was no immediate news catalyst for the fall, ascribing the moves to largely technical trading. Other major cryptocurrencies including Etherum and Ripple’s XRP also fell 4% and 5.5% respectively.
Facebook’s announcement that it planned to launch by the end of June 2020 its own digital coin as part of a push into digital payments and e-commerce signalled a resurgence in interest in digital currencies, traders said.
