Bitcoin Below $10,000; Value Halved Since Mid-December

Other digital currencies have also dropped sharply in value, adding to fears of a speculative bubble that could pop at any moment.

Artistic representation of "a bitcoin"
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This article was republished here with permission from The Associated Press, however it is no longer available to read on Snopes.com.

Bitcoin fell below $10,000 Wednesday, extending a sell-off that has erased about half the digital currency’s value in one month. Other digital currencies fell sharply as well. Bitcoin has slumped about 30 percent just this week as traders worry that regulators in South Korea will crack down on trading of digital currencies. The price of bitcoin fell 13 percent to $9,823 as of 1:26 p.m. Eastern Time, according to Coindesk. Bitcoin hasn’t caught on as…

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