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Bitcoin Collapse Accelerates

Value of the digital token has declined more than $1,000 in two days.

By Janine Wolf & Olga Kharif | Updated on June 13, 2018

Bitcoin tumbled to its lowest level since February as the meltdown in the world’s largest digital currency accelerated, renewing concern about the long-term viability of the much-hyped alternative to traditional currencies.

The price of the digital coin fell as much as 4.6 percent Tuesday to $6,450.01, bringing the slide for the year to more than 50 percent. It’s down from a record high of $19,511 reached in December, the culmination of the more than 1,400 percent surge seen in 2017 as bitcoin burst into the mainstream.

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