- Bitcoin price drops below $10,000 per coin for the third time in two weeks.
- As of 10.10 a.m. GMT (5.10 a.m. ET) the largest cryptocurrency is down around 6%.
- Recent falls are largely down to market fears after reports that cryptocurrency exchanges Bitfinex and Tether being subpoenaed by US regulators in December.
LONDON — Bitcoin dropped below the psychologically significant $10,000 per coin level on Thursday morning, for the third time in two weeks.
The cryptocurrency has hovered around the mark for most of the week, yoyoing between sub- and plus-$10,000 line frequently.
Most recently, on Wednesday it fell below $10,000 after reports that cryptocurrency exchanges Bitfinex and Tether being subpoenaed by US regulators in December dragged down prices.
It seems as though those concerns are still impacting the market, and on Thursday morning in Europe, the price of bitcoin has fallen around 6% to push it back below $10,000.
By 10.10 a.m. GMT (5.10 a.m. ET), it is trading at $9,540, as the chart below illustrates:
Markets Insider
Concerns have been swirling for months about the status of Tether, a cryptocurrency issued by Tether Limited. It plays a central role in the operation of many leading cryptocurrency exchanges, including Bitfinex, but there is speculation that the company behind it may not hold the dollar reserves it claims.
Elsewhere in the crypto markets, ethereum is down around 1.7% to trade at $1,090, while Ripple’s XRP is almost 10% lower.
You can read more about Tether, via Business Insider’s Oscar Williams-Grut, here.
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