INSUBCONTINENT EXCLUSIVE:
plunge after the United States dot-com bubble burst
Hundreds of other virtual coins have all but gone to zero -- following the same path as Pets.com and other red-hot initial public offerings
feat now that much of the world knows about cryptocurrencies and has made up their mind on whether to invest
for professional investors on Thursday, said in an interview on Bloomberg Television.
Bitcoin declined as much as 4.2 percent to $5,791.19
on Friday, the lowest level since November, according to Bloomberg composite prices
It traded at $5,894 as of 6:22 a.m
in New York, down 59 percent for the year and heading for a second-quarter loss of 14 percent
Other coins including Ether and Litecoin also slumped, while the combined value of tokens tracked by CoinMarketCap.com declined to $236
Friday, hacks at two South Korean exchanges and a regulatory clampdown in Japan have weighed on sentiment in recent weeks
including money laundering, market manipulation and fraud.
Lesser-known tokens have been hit the hardest
Dead Coins lists around 800 that are effectively worth nothing, while Coinopsy puts the tally at more than 1,000
Fewer than 4 percent of initial coin offerings raising from $50 million to $100 million were successful or promising, according to a March
