LONDON — Bitcoin fell by more than 50% against the dollar in the first three months of 2018 to record its worst start to the year ever.
CoinDesk reports that the cryptocurrency recorded its worst start to the year ever in the first quarter and its second-worst quarter on record. Bitcoin’s worst three-month spell came in the third quarter of 2011 when it declined by 68% against the dollar.
Bitcoin surged to an all-time high of close to $20,000 in mid-December but began rapidly declining at the start of the year amid fears of a regulatory crackdown and declining Asian buying volumes. Bitcoin was below $10,000 by mid-January.