Bitcoin slides another 16%, falling below $50,000 as Janet Yellen raises the alarm – CNBC
Bitcoin’s price descended further on Tuesday after U.S. Treasury Secretary Janet Yellen issued a warning about the cryptocurrency.
The world’s most valuable digital coin plunged 16% in the last 24 hours, sinking below $50,000 to trade as low as $45,389 at 4:10 a.m. ET, according to data from Coin Metrics.
Smaller digital tokens like ether and XRP also tumbled. Ether slipped 15% to a price of $1,497 while XRP sank 21% to trade around 45 cents.
On Monday, Yellen called bitcoin an “extremely inefficient…