ftg bitcoin 1 670x330 - Bitcoin Falls to Fresh Low at $7,599

Bitcoin Falls to Fresh Low at $7,599

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. Last week it suffered its worst weekly performance since 2013.

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British bank Lloyds Banking Group on Sunday said it was banning customers from buying Bitcoin using credit cards. It joined U.S. banking giants JPMorgan Chase & Co and Citigroup who announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value.

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