Bitcoin fell below $15,000 on Bitstamp exchange on Friday, news agency Reuters reported. The cryptocurrency was down more than 5 per cent on the day, the agency said.

Bitcoin – which had shed more than 10 per cent on Wednesday to a one-week low of $15,800 at Luxembourg-based cryptocurrency exchange Bitstamp – had opened at $15,600.00 on Friday, according to the Bitstamp website. Bitcoin has been sliding since it reached a record high of $19,666 on Sunday, when the exchange giant CME Group launched bitcoin futures, one week after its rival Cboe Global Markets listed the world’s first bitcoin futures.

At 7:57 am, bitcoin was trading at $14,655 on the exchange. 1.

The bitcoin’s rapid gains this year – its price has soared about 19 times – have spurred caution and alarm among some policymakers. 2.

Recently, markets regulator Sebi (Securities and Exchange Board of India) will come down heavily on illicit ‘initial coin offers’ seeking public investments with promise of high returns from bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime. However, Sebi is not keen to take on the mantle of a regulator for such ‘trading’ as the underlying product, which is bitcoin or any such cryptocurrency, is not an approved product by RBI or any other agency, news agency Press Trust of India reported citing top officials. Read more from ndtv.com…

thumbnail courtesy of ndtv.com