Photographer: Andrey Rudakov / Bloomberg
Photographer: Andrey Rudakov / Bloomberg
Bitcoin plunged the most in more than seven weeks, a few days after reaching a record high.
The sign fell 8.5% to $ 55,689.98 in Singapore on Sunday, after falling 15.1% to $ 5,707.51 earlier. Ether, the second largest cryptocurrency, has fallen nearly 8%.
Several online reports have attributed the progress to the speculation that the U.S. Treasury may suppress money laundering carried out by digital assets.
Bitcoin reached a record high of $ 64,869.78 last week before the debut trade for the cryptocurrency exchange Coinbase Global Inc. on the Nasdaq Wednesday. The original and largest crypto-currency, Bitcoin, is valued at more than $ 1 trillion after an increase of more than 800% over the past year.
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