Investing.com - The price of digital bitcoin fell for a second straight day on Sunday and was close to its lowest levels in a week, while other major cryptocurrencies were also lower.
Bitcoin was trading at $9,559 on the Bitfinex exchange by 05:11 AM ET (10:11 AM GMT), down around 2.6% for the day. Prices hit a low of $9350 on Saturday, the lowest level since Feb. 15.
Bitcoin briefly fell to a low of $6,000 earlier this month before recovering.
Bitcoin tumbled amid a massive selloff triggered by fears over a regulatory crackdown, concerns over potential price manipulation in the market, and a hack on cryptocurrency exchange Coincheck in which over $500 million was stolen.
The cryptocurrency rose above $11,000 for the first time since January on Tuesday before resuming its decline. Traders said there was no specific catalyst for the decline.
The price of bitcoin has roughly halved in value since it hit an all-time high of around $20,000 in December and it is down around 30% so far in 2018.
Other major cryptocurrencies also traded lower, with Ethereum, the world’s second largest cryptocurrency by market cap, down around 1.5% to $835.
The third largest cryptocurrency Ripple was down around 1.7% to $0.89.