Bitcoin Prices Hit Four-Month Low Amid Uncertainty Over German Government and Mt. Gox Selloffs
Bitcoin prices hit a four-month low on Monday due to uncertainty over potential selloffs from the German government and creditors of the bankrupt crypto exchange Mt. Gox. Other major cryptocurrencies also experienced losses ranging from 2.5% to 11%, resulting in the total cryptocurrency market losing around $20 billion in value over the course of a day. The decline of Bitcoin is attributed to a combination of factors, including decreasing interest in cryptocurrency exchange-traded funds, uncertainty over monetary policy, and fears surrounding the bankruptcy of Tokyo crypto exchange Mt. Gox. Despite these factors, Bitcoin still makes up over half the total value of the cryptocurrency market.
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