Bitcoin plummets to lowest level in over a year

Bitcoin tumbled below $6,000 for the first time since August and reached the lowest level in over a year, breaking the recent stretch of tranquility exhibited by the volatile digital alternative to cash. The world’s largest cryptocurrency tumbled as much as 11 percent, with most of the loss coming within a half hour window. Other digital coins slumped, with smaller rivals Ether, Litecoin and XRP dropping more than 17 percent. Bitcoin Cash tumbled as much as 21 percent as the Bitcoin offshoot faces its own split. “The market is trying to find the bottom,” said Michael Terpin, a San Juan, Puerto Ricobased partner at Alphabit Fund. “People who are chartists look at historical patterns, and they note there’s one last final capitulation drop to get the last people fleeing out of the market.”