Forex

Bitcoin tumbles as Stellar run for cryptocurrencies gets tested

Bloomberg Sydney | Updated on May 17, 2019 Published on May 17, 2019

The price of Bitcoin slid 7.3 per cent to $7,113.71. File photo   -  Reuters

Bitcoin slumped on Friday as this years surge in digital assets gave way to a retreat in cryptocurrencies.

The price of Bitcoin slid 7.3 per cent to $7,113.71 as of 12:13 pm in Tokyo, while Ethereum sank 7.5 per cent and the Bloomberg Galaxy Crypto Index tumbled 8.9 per cent. The declines come after Bitcoin more than doubled in 2019 and many participants struggled to pinpoint reasons for the sizzling rally.

Published on May 17, 2019
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