“It’s to be determined whether this is the start of a larger correction, but we have now seen this parabola break so it might just be,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore.
The white-knuckle Bitcoin ride took another twist Monday as a two-day tumble in the digital currency stoked concern that the polarising cryptocurrency boom may run out of steam.
Bitcoin, the largest cryptocurrency, slid as much as 18% over Jan 10 and 11 to as low as about US$33,500 ($44,532.22). That’s the biggest two-day slide since May last year and follows a record high of almost US$42,000 on Jan 8.
