Bitcoin plunges below $8,000 after fall of 55% from 2018 peak
Its lowest point of $7,695 represented a fall of 15 per cent from its price at midnight GMT of $9,050 and was 55 per cent below its 2018 peak of $17,135 hit on 6 January.
a market analyst with ETX Capital, said it would be relatively easy to see Bitcoin’s value rise from current levels back to $9,000, but it could sit at a lower value of $7,800 or see a major sell off.
It has suffered a week of heavy losses after US regulators closed in on rival coin
The cryptocurrency could see further huge losses if it does not recover quickly .