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Bitcoin price tumble on the market

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Bitcoin fell sharply amid broad-based cryptocurrency selling as negative sentiment deepened after Google said it would ban all crypto-related advertisement.

The move comes among mounting fears of a coordinate effort by international regulators in Europe, U.S., Asia to curb cryptocurrency activity.

IMF chief Christine Lagarde said “We can harness the potential of crypto-assets while ensuring that they never become a haven for illegal activity or a source of financial vulnerability.” It means that the same technology that powered cryptocurrencies could be used to help regulate them.

 

On the bitfinex exchange, Bitcoin fell 11.63% to $8,050. The popular currency has struggled to find its footing after attempts to rally above $11,000 to $12,000 zone was met with selling resistance.

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