Citi: Bitcoin Could Drop To $5,600 Levels

Bitcoin may lose 50 percent of its value from its current level as fears over regulatory clamp-downs have spurred a rout among cryptocurrencies this week, Citi analysts said to Reuters on Wednesday.

The world’s biggest and best known digital currency, which fell below $10,000 on Wednesday, could fall into a range of $5,605 to $5,673 based on technical factors. This possible move “looks very likely to be very speedy,” the analysts wrote in a research note.

Sources: Reuters & Others