Bitcoin drops below US$7,000

Bitcoin continues to tumble with a dramatic fall today, dipping to US$6,145.

Ross Greenwood speaks Lasanka Perera from Independent Reserve, a Bitcoin exchange.

“It’s been quite a day here.

“The uncertainty and doubt have truly taken grip of our market.

Mr Perera puts this down to a fast rise in the market.

“We had quite a feverish run up through Christmas and the early part of January. I think some part of it is we’re having a correction from that.

“That’s been exasperated by a number of news items like China and Facebook banning crypto ads.

“I guess the fear machine has been doing its work.”

Listen to the full interview below