Bitcoin dips below NZ$148,000 briefly in crypto rout
Bitcoin and companies tied to cryptocurrencies extended a nearly two-month swoon, tracking with a broader market sell-off in American technology companies that many see as overvalued.
Bitcoin slid 5.6% after being down nearly 12% earlier in the day, settling in just above US$85,000 (NZ$148,000).
The most-traded cryptocurrency is down about 33% since hitting a record US$126,210.50 (NZ$220,391) on October 6, according to crypto trading platform Coinbase.
Bitcoin had soared since April in line with the stock market and driven partly by a more crypto-friendly tone in Washington.
Companies that enable investors to buy and sell cryptocurrencies, as well as the growing number of companies that have made investing in bitcoin their main business…
