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Bitcoin tumbles 5% after sliding below $4,000 again
Bitcoin slid over 5% on Thursday on track for the third loss in four days after failing to hold above $4,000 amid a lack of incentives to prop up crypto assets.
At Bitstamp, Bitcoin shed $213, or 5.3% to $3,790, with a session-high at $4,036, and a low at $3,753.
Bitcoin inched up 0.2% on Wednesday, the first profit in three days as trading hovered around $4,000.
Market value of cryptocurrencies fell $8 billion on Thursday to a total of $129 billion, the lowest since January 2.
Bitcoin dropped 5% in a few hours, erasing $8 billion of market value in another sign of ebbing investor confidence.
Bitcoin fell below $4,000 yet again as demand continues to be weak on crypto assets with no news to prop up the market.
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