Cryptocurrency bloodbath continues as bitcoin falls below $10,000

Enlarge (credit: Oliver Mallich)

Bitcoin fell below the psychologically significant level of $10,000 on Wednesday morning, marking a second day of double-digit declines for the virtual currency. One bitcoin is now worth $9,700, less than half its peak value of $19,500 achieved just last month.

Bitcoin's fall is part of a broader cryptocurrency sell-off. For the second day in a row, every major cryptocurrency has suffered double-digit declines over the previous 24 hours.

Ethereum is now worth $810, down 42 percent from its peak above $1,400 just four days ago. Litecoin has fallen to $150—down 58 percent from its peak of $360 on December 19. Bitcoin Cash, a rival version of bitcoin, was worth more than $4,000 on December 20. It's now down to $1,500, a 65 percent decline.

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