The digital currency slid to about $5,861 early Friday, according to composite Bloomberg pricing, touching the lowest since November.
Rival coins including Ethereum, Ripple and Litecoin also retreated.
All are set for declines of about 20 percent or more in June.
Confidence in cryptocurrencies is being tested this year with hacks from Japan to South Korea raising security questions.
Bitcoin, which is down almost 60 percent this year, was labeled a “speculative bubble” earlier this week by Nobel economics prize winner Robert Shiller.
Jeff Garzik first tuned the world into his latest venture in the fall of 2017. The Bloq co-founder unveiled Metronome (MET), a cryptocurrency he founded alongside Matthew Roszak, at the Las Vegas Money 20/20 conference in late October, and the project caught the attention of Bloomberg and Fortune at the time.
According to Fundstrat head of research Thomas Lee, the recent decline in Bitcoin (BTC) price is likely the result of the expiration of Bitcoin futures, Bloomberg reports June 14. In a report, Lee explained that the “gut wrenching” weakness in Bitcoin (BTC), which dropped upwards of 20 percent earlier this week, was the result of
There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U. S. dollar. According to Tether, each Tether token is backed by one U.