mo4ch:>Bitcoin falls below $5,000 for 1st time since 2017 | Mo4ch News

Bitcoin has dropped below $5,000 for the first time in over a year as cryptocurrencies’ wholesale freefall continued, as investors fearing new regulations sell up their virtual holdings.Bitcoin fell to as low as $4,960 on Monday, the eighth consecutive day of losses for cryptocurrency token, and the second low-water mark in days. Last Wednesday, the ten-year-old token dropped 11 percent in a single day of trading, dipping below $6,000 to its lowest price in a year.READ MORE: Cryptocurrency mining may kill Earth faster than coal mining, study findsAfter an unprecedented speculation bubble saw bitcoin touch $20,000 in December 2017, the coin’s value has nosedived in volatile trading over the following months. The virtual currency has enjoyed a period of relative stability since early September, hovering between $6,000 and $7,000.Bitcoin’s decline over the last 24 hours alone saw its market capitalization fall by more than $14 billion.Some critics see US government regulation as fuelling…