Bitcoin tumbles below $10,000 for the 2nd time in less than 2 weeks

Bitcoin has slumped more than 11% in the last 24 hours, falling below $US10,000 per coin for the second time in less than two weeks.

The flagship digital coin now makes up just 33.6% of the world’s total cryptocurrency market value, according to CoinMarketCap.com.

Last year, bitcoin’s price was on path that seemed to have just one direction: up. However, news of crackdowns in the US as well as crypto-centric countries like Russia, China, and South Korea have reinjected violent price swings into the marketplace.

Bitcoin previously fell below $US10,000 less than two weeks ago, when what was dubbed a cryptocurrency ‘bloodbath‘ wiped out hundreds of billions of dollars worth of value from cryptocurrencies in a matter of days.

The $US10,000 benchmark was first crossed in November 2017, as bitcoin’s price skyrocketed to almost $US20,000. It eventually peaked just below, at $US19,843, according to Markets Insider data.

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