Bitcoin price plummets to 11900 USD per BTC

Bitcoin fell as much as 20 percent on Wednesday, piercing below $10,000, while other cryptocurrencies took similar spills due to investor fears that regulators could clamp down on them in an effort to curb speculation. The price of the world’s biggest and best-known cryptocurrency fell on the Luxembourg-based Bitstamp exchange, a six-week low and close to half the peak price of almost $20,000 it reached in December. KEEP READING El Salvador protest breaks out against Bitcoin adoption El Salvador adopts Bitcoin El Salvador’s troubled cryptocurrency rollout hits Bitcoin Glitches, protests as Bitcoin becomes legal tender in El Salvador Other cryptocurrencies plunged as well. Ethereum and Ripple were both down heavily after reports that South Korea and China could ban cryptocurrency trading, sparking worries of a wider regulatory crackdown. “There is a lot of panic in the market. People are selling to try and get the hell out of there,” said Charles Hayter, founder of Cryptocompare, which owns cryptocurrencies. “You have more regulatory uncertainty … and because of these falls you have these other outfalls,” he said, referring to the collapse of some cryptocurrencies within the recent slump in prices.