Home Tech The price of bitcoin is yo-yoing

The price of bitcoin is yo-yoing

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Bitcoin continues to yo-yo after a particularly rough month for the notoriously volatile cryptocurrency,

The price dipped back below $8,000 on Sunday morning after briefly surpassing $9,000 earlier on Saturday, the latter being a week high.

Bitcoin has lost more than half its value since hitting an all-time high of more than $19,000 at the end of last year.

The cryptocurrency has landed in the sights of regulators in recent weeks, dampening some of the appetite among investors.

Last week Lloyds became the first major bank in the UK to ban the buying of bitcoin with its credit cards. And Irish banks are the latest to be revealed to be monitoring the situation, following on from others in the UK.

An official from the ECB called it a gold rush with no gold, while finance heads in France and Germany called for a crackdown.

Source:www.cityam.com