Bitcoin Bitcoin nosedives by almost 12 pc
Washington/UNI: Bitcoin value fell by almost 12 per cent during the past 24 hours to trade at around USD 54,916 early on Sunday.
This marks the crypto currency's lowest intraday level in several months.
The drop comes at a time when there are reports that the US Treasury is about to crack down on financial institutions for laundering money through digital coin trading.
Bitcoin's downward trend follows a week of rallying prices. It traded as high as $64,850 last week, ahead of the Nasdaq debut by the crypto exchange Coinbase.
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