From CNBC.com….
Bitcoin fell below $37,000 for the first time in over three months on Wednesday, continuing a major sell-off that began a week ago.
The digital currency was down 20% in the last 24 hours, according to Coinbase. The cryptocurrency hit an intraday low of around $36,189 at 7:30 a.m. ET. It was the lowest level since Feb. 3, when bitcoin hit a low of $35,393.
That means bitcoin has now erased all its gains following Tesla’s announcement that it would purchase $1.5 billion worth of the cryptocurrency. Bitcoin is down more than 30% in the last week, according to Coinbase.
Negative news over the past week has dampened sentiment for bitcoin.
