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Bitcoin Heads for Worst Weekly Drop Since March Amid Selloff

Bitcoin Heads for Worst Weekly Drop Since March Amid Selloff
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Bitcoin tanks after Elon Musk hints prices are excessive; Janet Yellen sounds warning

Bitcoin Tumbles Below $50,000 as Caution Sweeps Over Crypto

Bitcoin below US$50,000 as caution offsets rally

Bitcoin yesterday slid after a bout of volatility highlighted lingering doubts about the durability of its mesmerizing rally. The cryptocurrency fell as much as 12.5 percent to US$48,071 and was trading below US$50,000 as of 8:16am in London. At one point on Monday it plunged 17 percent before paring the slide. Bitcoin is still up about 390 percent in the past year. US Secretary of the Treasury Janet Yellen and Microsoft Corp cofounder Bill Gates were the latest to weigh into a debate over the digital coin. Gates cautioned about how investors can be swept up in manias, while Yellen said bitcoin

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