Bitcoin, the world’s best-known cryptocurrency, fell 7 percent on Monday to a fresh 2-1/2-month low of $7,599 on back of growing worries about a regulatory clampdown and bans on the purchase of the digital coins.
The price of Bitcoin on the Luxembourg-based Bitstamp exchange has now fallen by more than half from a peak of almost $20,000 hit in December BTC=BTSP. Last week it suffered its worst weekly performance since 2013.
British bank Lloyds Banking Group (LLOY.L) on Sunday said it was banning customers from buying Bitcoin using credit cards. It joined U.S. banking giants JPMorgan Chase & Co (JPM.N) and Citigroup (C.N) who announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value.