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Reuters
Reuters
Business

Citi sees bitcoin potentially halving in value again

FILE PHOTO: A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson/File Photo

NEW YORK (Reuters) - Bitcoin may lose 50 percent of its value from its current level as fears over regulatory clamp-downs have spurred a rout among cryptocurrencies this week, Citi analysts said on Wednesday.

The world's biggest and best known digital currency, which fell below $10,000 on Wednesday, could fall into a range of $5,605 to $5,673 based on technical factors. This possible move "looks very likely to be very speedy," the analysts wrote in a research note.

(Reporting by Richard LeongEditing by Chizu Nomiyama)

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