By Steven Russolillo and Kenan Machado, Wall Street Journal
Bitcoin plunged below $8,000 on Friday, extending its sharp rout since the start of the year in a selloff triggered by a widening regulatory crackdown on cryptocurrencies.
In morning trading in New York, bitcoin had recovered to about $8,900, down 3% on the day after slipping below $7,700 shortly before 8 a.m. That was the lowest level since November.
At its low point, the digital currency had fallen about 60% from a record high of $19,783 in December, according to research site CoinDesk Inc. That marks bitcoin’s third biggest drop over the past five years: It fell 76% in the spring of 2013, and 85% from November 2013 to January 2015.
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