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Bitcoin breaches $5,000, plumbs fresh 13-month low

Bitcoin breaches $5,000, plumbs fresh 13-month low
FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo   -   Copyright  Benoit Tessier(Reuters)
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LONDON (Reuters) – Bitcoin fell below $5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform <BTC=BTSP> as a broad sell-off in cryptocurrencies sparked last week gathered momentum.

As of 1645 GMT the original cryptocurrency was down 8.7 percent at $5,100, after breaching the landmark for the first time since Oct. 12, 2017.

Traders said selling was largely sentiment-driven and cited fears that Thursday’s “hard fork” in bitcoin cash, where the smaller coin split into two separate currencies, could destabilise others.

(Reporting by Tom Wilson; Editing by Tom Finn)

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