Bitcoin price falls below $6,000 as banker signals crackdown
by Angela Monaghan from Technology | The Guardian on (#3F72N)
BIS head says cryptocurrency is a 'Ponzi scheme' that poses a threat to financial stability
"Stock market turmoil - live coverage
The price of bitcoin yo-yoed wildly again on Tuesday, falling 14% to $5,920 (4,250) before bouncing back to $7,265 - up nearly 6% on the previous day. The latest gyrations came as a leading central banker described the cryptocurrency as "a bubble, a Ponzi scheme and an environmental disaster".
The new head of the Bank for International Settlements, Agustin Carstens, also said bitcoin threatened to undermine public trust in central banks and posed a threat to financial stability, and he signalled a global clampdown.
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