Bitcoin Falls Below $5,000 for First Time in 13 Months as Crypto Selloff Continues22.15

Bitcoin’s US dollar value continued plunging Monday, driving the cryptocurrency’s price below the $5,000 mark for the first time in 13 months.

The price of Bitcoin fell as low as $4,754 Monday, marking a 14% drop in a 24-hour period. While it’s not clear what triggered the most recent selloff, some pointed to actions that the U.S. Securities and Exchange Commission took Friday against two cryptocurrency startups that staged initial coin offerings, or ICOs. Airfox and Paragon Coin agreed to pay civil penalties for running token sales last year without registering them as securities offerings.

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