{"id":223342,"date":"2018-02-06T07:33:32","date_gmt":"2018-02-06T05:33:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=223342"},"modified":"2018-02-06T07:33:32","modified_gmt":"2018-02-06T05:33:32","slug":"bitcoin-slumps-below-7000-as-cryptos-hit-by-risk-asset-rout","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/223342\/bitcoin-slumps-below-7000-as-cryptos-hit-by-risk-asset-rout\/","title":{"rendered":"Bitcoin slumps below $7,000 as cryptos hit by risk-asset rout"},"content":{"rendered":"

Bitcoin continued its 2018 swoon as worries over tightening regulatory oversight of cryptocurrencies combined with a broader flight from riskier assets to send it to the lowest since November.<\/p>\n

The largest cryptocurrency sank 9.5% to $6,424 as of 10:16 a.m. in Hong Kong, according to composite Bloomberg pricing. Bitcoin has now wiped out about two-thirds of its value since reaching a record in December. Alternative coins Ripple, Ether and Litecoin also tumbled at least 6%.<\/p>\n

The sell-off comes amid a rout in stocks, with markets in Asia extending losses Tuesday following another white-knuckle day for US equities.<\/p>\n

The two top US market regulators are planning to ask Congress to consider federal oversight for digital-currency trading platforms when they appear together at a Senate hearing Tuesday, according to testimony obtained by Bloomberg News.<\/p>\n

It\u2019s the latest blow for cryptocurrency operations, which have come under increasing scrutiny from authorities around the world after a dramatic run-up in prices over the past year and a record $500 million heist at a Japanese exchange.<\/p>\n

\"\"<\/a><\/p>\n

\n

Read: Bitcoin: the tax question in South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin continued its 2018 swoon as worries over tightening regulatory oversight of cryptocurrencies combined with a broader flight from riskier assets to send it to the lowest since November.<\/p>\n","protected":false},"author":59,"featured_media":194070,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537],"class_list":["post-223342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/223342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=223342"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/223342\/revisions"}],"predecessor-version":[{"id":223354,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/223342\/revisions\/223354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/194070"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=223342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=223342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=223342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}